any payment made by a government for a purpose other than that of purchasing goods or services, as for welfare benefits.
any money received that is neither a payment for goods or services nor investment income.
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Origin of transfer payment
First recorded in 1940–45
Words nearby transfer payment
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020
British Dictionary definitions for transfer payment
(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
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
Cultural definitions for transfer payment
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.
The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.