benefit offset Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “benefit offset” in the English Dictionary

"benefit offset" in Business English

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benefit offsetnoun [C]

uk   us   US FINANCE
a ​reduction in the ​amount of ​payments someone receives from their ​pensionplan because they ​owe the ​planmoney or because they are receiving ​payments from another ​plan: A ​benefitoffset can occur when the ​beneficiary also has another ​source of ​benefits that must be taken into ​account.
(Definition of benefit offset from the Cambridge Business English Dictionary © Cambridge University Press)
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