Single payment of money, as opposed to a series of payments made over time
A lump sum is a single payment of money, as opposed to a series of payments made over time (such as an annuity).[1][2][3][4]
The United States Department of Housing and Urban Development distinguishes between "price analysis" and "cost analysis" by whether the decision maker compares lump sum amounts, or subjects contract prices to an itemized cost breakdown.[5]
In 1911, American union leaders including Samuel Gompers of the American Federation of Labor expressed opposition to lump sums being awarded to their members pursuant to a new workers compensation law, saying that when they received lump sums rather than periodic payments the risk of them squandering the money was greater.[6]
The Financial Times reported in July 2011 that research by Prudential had found that 79% of polled pensioners in the UK collecting a company or private pension that year took a tax-free lump sum as part of their retirement benefits, as compared to 76% in 2008.[7] Prudential was of the view that for many retirees, a lump sum at the time of retirement was the most tax efficient option.[7] However, Prudential's head of business development, Vince Smith Hughes, said, "some pensioners are beginning to regret the way they used the tax-free cash. The days of buying a shiny new car or going on a once-in-a-lifetime holiday may be gone."[7]
^W. Steve Albrecht; Earl K. Stice; James D. Stice; Monte R. Swain (February 26, 2010). Accounting: Concepts and Applications. ISBN 9780538478182. Retrieved July 14, 2011.
^Neal T. Seidle; William J. Snider; Darwin M. Bayston (June 30, 1998). Investment basics and beyond. ISBN 9780899820606. Retrieved July 14, 2011.
^V. R. Leonard (2008). The Social Security & Medicare Handbook: What You Need to Know Explained Simply. Atlantic Publishing Company. p. 102. Retrieved July 14, 2011. lump sum is a single payment.
^James E. Clyde (December 5, 2007). Construction inspection: a field guide to practice. ISBN 9780471888611. Retrieved July 14, 2011.
^
"Quick Guide to Cost and Price Analysis for HUD Grantees and Funding Recipients". United States Department of Housing and Urban Development. Retrieved July 16, 2011. Negotiating a modification (including change orders) to any type of contract, if the modification changes the work authorized under the contract, and changes the price or total estimated cost, either upwards or downwards. You must obtain a detailed breakdown of the contractor's proposed cost - not a lump sum proposal - before negotiating the change in contract price.
^"Lump Sum Payment is Strongly Opposed; Labor Leaders Favor Periodical Payments in Workmen's Compensation Plan". The Gazette Times. November 8, 1911. Retrieved July 14, 2011.
^ abcCara Waters (July 13, 2011). "Pensioners regret taking lump sum". Financial Times. Archived from the original on October 3, 2011. Retrieved July 14, 2011.
A lumpsum is a single payment of money, as opposed to a series of payments made over time (such as an annuity). The United States Department of Housing...
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Development Cooperation's experiments with lumpsum cash transfers and came out with the following six findings: Lumpsum transfers work better in post-emergency...
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plan in which an employer/sponsor promises a specified pension payment, lump-sum, or combination thereof on retirement that depends on an employee's earnings...
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rate is fixed, while the amount to which the rate is applied increases. A lump-sum tax is a tax that is a fixed amount, no matter the change in circumstance...
wealth and will be paid back upon retirement or emigration, either as lumpsum or as pension. Only social security contributions without a ceiling can...
exemptions for the lumpsum pension payment. Countries which grant tax exemption for the UN pensions whether it is paid as a lumpsum or as a monthly income...
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prize, do not offer a lump-sum option. According to some experts, choosing the annuity is better than opting for the lump-sum, especially for those who...
insurance product in which the insurer is contracted to typically make a lumpsum cash payment if the policyholder is diagnosed with one of the specific...
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