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English definition of “lump sum”

lump sum

noun [C, usually singular]     (also lump) FINANCE
an amount of money that is paid in one large payment on one occasion : She received a lump sum of €70,507 when she retired .be paid/taken as a lump sum The entire amount can be taken as a lump sum . If the pension is small , it may be paid as a one-off lump sum payment at age 65.
(Definition of lump sum noun from the Cambridge Business English Dictionary © Cambridge University Press)
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