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- Single lump sum paymentA commutation payment is a single lump sum payment that replaces all of your agreed entitlements including medical, hospital and rehab payments, and any future weekly payments you may be eligible to receive12. It is an agreement between your worker and your Claims Service Provider (CSP)2. Commutation can also refer to the right that a beneficiary has to exchange one type of income for another, such as a lump-sum payment instead of a series of future payments3. Commutation is also offered to annuitants and to the beneficiaries of life insurance policies3.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.The official term is a ‘commutation’ which means that you accept a single lump sum to cover all of your agreed entitlements including medical, hospital and rehab payments. It also replaces any future weekly payments you may be eligible to receive.www.icare.nsw.gov.au/injured-or-ill-people/workpla…A commutation is an agreement between your worker and your Claims Service Provider (CSP) to make a single lump sum payment that includes weekly benefits and/or medical, hospital and rehabilitation expenses for the workplace injury.www.icare.nsw.gov.au/mental-health-claims-hub/e…Commutation refers to the right that a beneficiary has to exchange one type of income for another. Commutation is offered to annuitants and to the beneficiaries of life insurance policies so that they might receive a lump-sum payment instead of a series of future payments.www.investopedia.com/terms/c/commutation.asp
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WebJan 22, 2019. What does it mean to commute a pension? A pension commutation is a lump sum withdrawal from the theoretical capital supporting the pension. The theoretical capital is not exactly calculated …
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