transfer payment

noun

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.

Origin of transfer payment

First recorded in 1940–45

Words nearby transfer payment

transfer fee, transfer list, transfer molding, transfer of training, transfer orbit, transfer payment, transfer pricing, transfer rna, transfer station, transferable vote, transferal

British Dictionary definitions for transfer payment

transfer payment

noun

(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

Cultural definitions for transfer payment

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.