Payment made by the government or private sector of one country to another as a gift or aid, not as payment for any good or service nor as an obligation. Also called a unilateral transfer.
A payment of money or goods. A pure transfer is unrelated to the provision of any goods or services in exchange. Such payments alter the distribution of income, but do not directly affect the allocation of resources on the margin.
a public expenditure (as for unemployment compensation or veteran's benefits) that is not for goods and services
a grant, contribution or other payment made by the Government for which no goods or services are received
a unilateral payment, which is made without producing any goods and services
A payment made from one pension scheme to another, or to an insurance company to purchase a buy-out policy, in lieu of the benefits which have accrued to the member under the scheme. In this form, it specifically refers to transfers made under the preservation requirements of the Pensions Act. Other payments from one scheme to another are usually called transfer values.
A payment made from a pension scheme to another pension scheme, or to purchase a buy out policy, in lieu of benefits which have accrued to the member or members concerned, to enable the receiving arrangement to provide alternative benefits. The transfer payment may be made in accordance with the scheme rules or in exercise of a memberâ€(tm)s statutory rights under PSA93. See also cash equivalent.
A payment made without receiving any good or service in return. Transfer payments transfer command over resources from one party to another without reducing or increasing the amount of resources available as a whole. Taxes, duties, and subsidies are examples of items that, in some circumstances, may be considered to be transfer payments.
This is an amount that a scheme may pay when a member leaves. This amount will either go into a new scheme that the member has joined, or will be used to purchase a buy-out policy for the member . The scheme may make this transfer payment because of the scheme's rules , or because of the member 's rights under the law (a statutory transfer ).
Payment of a lump sum (Transfer Value) representing the value of an employee's accumulated pension rights, from one Pension Scheme to another Pension Scheme, or to a Buy Out Policy.
Payment made from a pension scheme to another pension scheme, in lieu of benefits which have accrued to the member, to enable the receiving scheme to provide alternative benefits. The amount transferred is known as the transfer value.
A government or other payment for which the recipient renders no current services. Social security, unemployment compensation and welfare benefits are the largest types of transfer payments.
In political science and economics, a transfer payment is a payment of money from a government to an individual for which no good or service is required in return. In economics, government transfer payments can be considered a negative tax, since in the case of a tax, people pay the government without getting any good or service in direct exchange.