Meaning commutation factors
What does commutation factors mean? Here you find 2 meanings of the word commutation factors. You can also add a definition of commutation factors yourself
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commutation factorsCommutation factors dictate the extent to which pension benefits are increased or reduced by late or early retirement. They also determine the relationship between the lump sum taken (if any) and the [..]
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commutation factorsFactors used to determine the amount of pension to be given up in exchange for a lump sum benefit.
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