transfer payment(redirected from Transfer payments)
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A noncompensatory government payment to individuals, as for welfare or social security benefits.
(Social Welfare) (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
1. any payment made by a government for a purpose other than that of purchasing goods or services, as for welfare benefits.
2. (in Canada) a payment from the federal to a provincial government.