lump sum

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lump sum

Medspeak-UK
A one-off payout that one receives upon retirement with the NHS, which is equivalent to 3 times one’s annual pension.

Medspeak-US
A one-time payment—e.g., from the 401(k) plan made to a worker’s beneficiary in the event of death.
References in periodicals archive ?
This centralization of funds previously broken down in specific programs into a single lump sum is a reversal of efforts towards itemized budgeting since the pork barrel system became an issue in the past administration,' he said in a statement.
It sounded like a great idea, allowing those who feel they were ripped off with a pathetic income from their hardearned pension savings to be able to bag a lump sum.
The Royal British Legion asked the MOD to consider offering lump sums - the MOD has listened and is correcting the disadvantage faced by some veterans when compared to their civilian counterparts.
So plan sponsors were viewing the retiree lump sums as a way to de-risk fairly significant blocks of liabilities," he said.
Aon-Hewitt discloses this finding in a new survey, "2014 Lump Sum Windows," that analyzes plan sponsors' experience related to 70 terminated vested lump-sum windows implemented during 2014, the windows covering approximately 290,000 plan participants.
Where the person entitled to drawdown dies then it will be possible for another beneficiary to continue in drawdown or for a lump sum to be paid.
But, after a small period of confusion, it clarified the lump sum death benefits that would come under the rules: ?
People think monthly payouts are bigger than the equivalent lump sums if the monthly payout is more than their actual monthly expenses.
We found that the additional lump sums have been tucked under the budget of different departments and agencies," Hicap, a Makabayan bloc member, said in a phone interview.
In a report for the thinktank CentreForum, he said people should be able to withdraw any lump sum they had built up - to a limit of pounds 10,000.
But research carried out by the Association of Investment Companies shows that, while people who followed this investment strategy would be better off in the short term, over a period of at least five years, lump sum investors would get higher returns.
Veterans tempted by lump sums would be giving up a lot of their benefit and would face the possibility of not being able to reopen their claim, should their disabilities worsen, Violante noted.