compulsory purchase annuity

English - English

Definition of compulsory purchase annuity in English English dictionary

Some approved occupational pension schemes produce a benefit at retirement that is expressed in cash terms rather than pension The cash sum produced must then be used to purchase an annuity known as a 'Compulsory Purchase Annuity' (but see Commutation)

Hyphenation

com·pul·so·ry pur·chase an·nu·i·ty

Turkish pronunciation

kımpʌlsıri pırçıs ınyuîti

Pronunciation

/kəmˈpəlsərē ˈpərʧəs ənˈyo͞oətē/ /kəmˈpʌlsɜriː ˈpɜrʧəs ənˈjuːɪtiː/