Lump sum

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Lump sum

A large one-time payment of money.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
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.
Increasing allocations to agencies for social development, such as health, education, and employment, is advocated by SWP, in place of massive amounts in lump sums. Agencies are required to make regular reports on their expenditures, making transparency and accountability easier to trace and establish.
A 65-year-old man with a pounds 30,000 pension pot would currently get an income of pounds 1,798.44 per year if they didn't take a lump sum. Taking a lump sum of pounds 7,500 would reduce his yearly income to pounds 1,366.32, just pounds 432.12, or pounds 36.01 a month, less.
He cited a P6 billion lump sum that was not related to calamity at all, and covered instead a feasibility study, as well as drainage projects and road networks worth billions.
Budget Secretary Florencio Abad was asked on Thursday by Senate President Franklin Drilon to specify lump sum, or pork, allocations in the proposed P3-trillion national budget for next year.
We can already submit to the public where are these projects going to dispel all of these unfounded allegations that these are lump sums, said Drilon.
The senator was reacting to former senator Panfilo Lacson' disclosure that the lump sums in this year's P2.606 trillion budget has already reached P424 billion and is still counting.
Ibig sabihin ng lump sum, discsretionary ito at alam naman natin na kapag discretionary 'yung pondo eh napaka-tempting nito para sa corruption, Lacson said in an interview with Radyo Inquirer 990AM.
That's a lump sum item, the senator said in a phone patch interview when asked if the reported P424-billion lump sum in the budget was illegal.
Lump sums of different departments, an agency and the police that Lacson's group found:
"As we have pushed for disaggregating lump sum funds in the past, we are taking it further in the 2016 national budget.
Budget Secretary Florencio "Butch" Abad earlier explained that the SPF is lump sum in nature because details have yet to be finalized.