transfer payment

noun

1. any payment made by a government for a purpose other than that of purchasing goods or services, as for welfare benefits.

2. any money received that is neither a payment for goods or services nor investment income.

transfer payment

noun

1. (usually plural) money received by an individual or family from the state or other body, often a pension or unemployment benefit. It is not reckoned when calculating the national income as it is money transferred rather than paid for merchandise or a service rendered

transfer payment

1. Income transferred from one party to another without a corresponding exchange of goods or services. Examples are a corporation's charitable contributions or a government's provision of social services.

Word History and Origins

Origin of transfer payment¹

First recorded in 1940–45