From Longman Dictionary of Contemporary Englishlump sumˌlump ˈsum noun [countable]BEWan amount of money given in a singlepaymentWhen you retire you’ll get a lump sum of £80,000.
Examples from the Corpus
lump sum• At retirement, your pension money can be taken out as a lump sum.• Alternatively a rentcharge may, under the 1977 Act, be bought out by a lump sum payment.• Expect a lump sumpaid in advance, either per month, or year.• Usually, for every £1 of annual pension you give up at 60, you will receive a lump sum of £11.• Under a blockgrantapproach, each state would receive a lump sum to be divided any way the state chose.• The averagepartner received a lump sum of $ 7. 8 million from the sale.• If you take a lump sum, the amount by which your pension will be reduced is mainly determined by your age.• A pension loan takes advantage of the cashlump sum your pension plan will provide at retirement.• Additionally, he would have received $ 6,000 in lump sum payments.From Longman Business Dictionarylump sumˌlump ˈsumINSURANCEan amount of money given in a single paymentAccident victims can receive compensation payments in installments or as a lump sum.The early retirement plan offers four weeks’ pay for every year of service, plus a lump-sum payment. →sum