For many people today, the pension is a more financially attractive option than the lump-sum benefit.
One point on which the council prevailed was a pilot-scheme to offer a lump-sum benefit for workers displaced by trade.
"He was one of only 33 members of the House of Representatives to vote against a plan to provide a lump-sum benefit to widows and children of federal law enforcement officers and firefighters killed in the line of duty".
And of course, if everyone is given what is essentially one lump sum of benefit money, it ends the stigma around the welfare state – nobody hates benefit scroungers any more because everyone is one!
These plans should not be confused with flight insurance, which can be bought at airport kiosks or vending machines; they pay beneficiaries a lump sum death benefit if you die in a plane accident.
Mr. Gregg noted that the bill's $262,100 lump sum death benefit was the same amount paid to police officers killed in the line of duty, and was more than the $256,000 lump sum paid to a soldier who might be killed in battle in Iraq.
He forfeited £19m of shares when he left and will be continued to paid until July this year – when he stands to get a £2m lump sum –and benefits such as health insurance and a driver of £400,000.
The report said the government become aware that "life insurance policies that provide lump sum death benefits alone were being offered as personal pension arrangements eligible for pensions tax relief".
In the following sentence from an information pack that's just arrived from one of my pension providers – "Lump sum death benefits are paid under trust at the discretion of the trustees" – what do the words that aren't verbs, prepositions or articles mean? 4. Why do pensions experts keep using phrases like "trivial commutation" when I've asked them politely to stop?
Web Phillips, a senior policy analyst with the National Committee to Preserve Social Security and Medicare (NCPSSM), says the end of the lump sum Social Security benefit for people with a major life change between age 66 and 70 is another "good deal that goes away" next year.
