Transfer Payment (Noun)
Meaning
A public expenditure (as for unemployment compensation or veteran's benefits) that is not for goods and services.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The government provides transfer payments to low-income families to support their living expenses during times of financial hardship.
- Transfer payments such as social security benefits and pensions are integral to the country's social welfare system.
- The economic stimulus package included increased transfer payments to help stimulate consumer spending during the recession.
- Unemployment benefits, a type of transfer payment, were increased to provide additional support to laid-off workers.
- The government's transfer payments to veterans for disability benefits and healthcare services helped alleviate some of their financial struggles.