Definition of transfer payment in English:

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transfer payment

Pronunciation: /tran(t)sˈfər/ /ˈtran(t)sfər ˈpāmənt/

noun

Economics
A payment made or income received in which no goods or services are being paid for, such as a benefit payment or subsidy.
Example sentences
  • It is possible for one party to request a transfer payment into their own pension arrangement over which they would have more control, such as deciding on the investments of the pension fund.
  • Perhaps because its population is larger than that of all of the other transfer payment receiving provinces combined.
  • If the inequity is of concern, then a transfer payment could be made to compensate low-income households for their greater costs.
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