Lump sum

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Lump sum

A large one-time payment of money.

Lump Sum

A large amount of money one spends at once, especially to make a large purchase. For example, if a house costs $175,000, and the buyer pays the total amount up front, the buyer is said to make a lump sum payment.

Lump sum.

A lump sum is an amount of money you pay or receive all at once rather than in increments over a period of time.

For example, you buy an immediate annuity with a single lump-sum payment. If you receive the face value of a life insurance policy when the insured person dies, or receive the full value of your retirement account, those payments are also lump sums.

References in periodicals archive ?
Tangibility and Relevance--Almost all employees understand and appreciate lump sums, as contained in the Nabisco cash balance plan.
Colmenares said the 5-year lump sum and old-age pension and cash payment and the basic monthly pension under the Government Security and Insurance System (GSIS) law are the option for the employees under the retirement program of the government.
The issue is again being debated as the Veterans' Disability Benefits Commission has asked its contractor, the CNA Corporation, to study the issues involved in offering a one-time lump sum payment instead of the current lifetime monthly compensation payments.
MIDLANDERS today received a tough warning over the pitfalls of helping themselves to tax-free lump sums from their pensions once they pass 50.
It's probably better to take the lump sum payment and invest your winnings with the help of a financial planner,'' said Robert Detterman, a certified financial planner with Bo-Gin Financial Inc.
Members who agreed to remain subject to recall would receive five weeks of pay in a lump sum.
The lump sum payment represents the present value of an individual s current monthly pension plan benefit.
SIRVA's Lump Sum Xpress offers employees the information they need to relocate in one convenient spot.
Death benefits is the term used to describe what happens to your pension when you die, either before or during retirement, when your pension fund can be used to provide a lump sum or a regular income for your spouse or dependants.
A even indicates that P can have $50,000 per year for 10 years, with a lump sum of $200,000 up front and an additional $200,000 at the end of 10 years.
Lump sum payouts of up to pounds 45,000 will be made to people who put off claiming their state pension for five years, it was announced this week.
Gwyn says you do this by making a one- off payment either by a transfer from another pension scheme or policy,or making a lump sum contribution into a pension plan.