Furthermore, the government extracts a tax penalty if pensioners choose to take a lump-sum payment on reaching retirement.

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Only those who file for and receive a lump-sum payment later in the year will waive their right to litigate.

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Gambling winnings, including lotteries, raffles or a lump-sum payment from the sale of a right to receive future lottery payments.

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Once the moratorium expires, Mr. Dorman, of Staten Island, will be responsible for covering the missed months in a lump-sum payment.

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The lump-sum payment you collect may be taxable.

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In June, GM said it will offer 42, 000 white-collar retirees in the U.S. a lump-sum payment in lieu of their monthly pension check and will transfer pension responsibility for 76, 000 others to a group annuity plan managed by Prudential Insurance.

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They have offered for me to make a one-off lump sum payment to bring the account up to date or to extend my mortgage term, but this does not alter the fact that it is their error that will now impact on my finances.

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