Meaning of transfer payment in English:

transfer payment


  • A payment made or income received in which no goods or services are being paid for, such as a benefit payment or subsidy.

    ‘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.’
    • ‘From April the Government is intending to transfer payment of state pensions directly to bank accounts.’
    • ‘The contributions to these systems do not constitute net savings, when they are used directly for transfer payment or when they serve as a source for government funding.’