transfer payment Word Origin 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 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
transfer payment in Culture 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.