- benefit
- See security proceeds Euroclear Clearing and Settlement glossary
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▪ I. benefit ben‧e‧fit 1 [ˈbenfɪt] noun1. [countable] a good effect or advantage that something has, for example a product or service:• We will focus our marketing message on the environmental benefits of the product.
• The system offers real benefits to the consumer.
2. [countable, uncountable] money provided by the government to people who are old and no longer work, or to people who are unemployed, ill, or on a low income etc; = welfare AmE:• the number of people out of work and receiving benefit
• Two thirds of lone parents on benefit receive income support.
ˌaccident and ˈhealth ˌbenefit [countable, uncountable]money paid by a government or insurance company to people who are not able to work because of an accident or an illnessˈchild ˌbenefit [countable, uncountable]money provided by the government to parents of children until they reach the age of eighteen, or nineteen if they remain in full-time educationdisaˈbility ˌbenefit [countable, uncountable]money provided by the government to people who need extra help or cannot work because they cannot use part of their body properlyˈhousing ˌbenefit [countable, uncountable]money given by the government to people who have no job, who have a low income, or who are sick to help them pay for somewhere to live:• You might be entitled to housing benefit.
incaˈpacity ˌbenefit also invaˈlidity ˌbenefit [countable, uncountable]names used at different times in Britain for benefits received by those who are too ill to work:• In 1995, sickness benefit and invalidity benefit were merged to form incapacity benefit.
maˈternity ˌbenefit [countable, uncountable]money paid by the government or an employer to a woman when she has a baby:• In order to claim maternity benefit, you need to have worked for at least two years and 16 hours each week.
• Maternity benefits are being offered by some companies.
ˈsickness ˌbenefit [countable, uncountable]money paid, especially by the government, to someone who is too ill to work:• She is entitled (= has an official right ) to receive State Sickness Benefit from the Department of Social Security.
• Denmark has made cuts in sickness benefits.
ˌstate ˈbenefit [countable usually plural]money provided by the government to people who are old and no longer work, or to people who are unemployed, ill, or on a low income etc:• One in five pensioners rely entirely on state benefits for their income.
unemˈployment ˌbenefit [countable, uncountable]money paid regularly by the government to people who do not have a job; = unemployment compensation AmE:• How long have you been receiving unemployment benefit?
ˈwelfare ˌbenefit [countable usually plural]money provided by the government to people who are old and no longer work, or to people who are unemployed, ill, or on a low income etc:• Full details of welfare benefits for elderly people are published each April by Age Concern.
• In the event of a justified claim, permanent total disablement benefit will be payable from the date of the claimant's disablement.
ˈdeath ˌbenefit [countable, uncountable] INSURANCEa single sum of money paid by an insurance company to the relatives of someone who has died:• Relatives of the deceased employees did not receive the expected death benefits even though the insurance company had paid out the cheques to the fund.
4. [countable] HUMAN RESOURCES something, especially money, that an employer gives to workers in addition to their normal pay, to encourage them to work harder or be satisfied where they work:• The company offers an excellent salary and benefits package, including relocation costs.
emˈployee ˌbenefits [plural] HUMAN RESOURCESthings that are offered to the employees of a company in addition to their normal pay, such as company cars, loans at low rates of interest, and the possibility of buying sharesˈfringe ˌbenefit [countable] HUMAN RESOURCESan additional advantage or service given with a job besides wages. pension S, company cars, and loans at low rates of interest are examples of fringe benefits; = PERK:• A competitive salary with fringe benefits will be offered.
[m0] ▪ II. benefit benefit 2 verb1. [intransitive] to get help or an advantage from something:• The taxpayer benefits because we do not have to borrow public money from the Treasury.
benefit from• This sector will benefit from lower borrowing costs.
2. [transitive] to give someone help or advantage:• The increase in house prices in the past 30 years has mainly benefited the comfortably-off.
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Ⅰ.benefit UK US /ˈbenɪfɪt/ noun► [C] a helpful or good effect: »The discovery of oil brought many benefits to the town.
get/receive the benefit (of sth) »Who received the benefit of the spending?
»To get the full benefit, this plan should be viewed as a long-term investment.
reap the benefits (of sth) »The industry is reaping the benefits of an increase in consumer confidence.
economic/financial/environmental/health benefits »The town is already receiving the economic benefits of the new shopping centre.
»a long-term/short-term/immediate benefit
»an added/additional benefit
► [C or U] GOVERNMENT, FINANCE in some countries, money that is given by the government to people who cannot find a job, are too sick to work, etc.: »As an unemployed mother, you can claim benefits.
»I'm on benefit at the moment.
»unemployment/disability/housing benefit
»a benefit claimant
► [C, usually plural] HR advantages such as medical insurance, life insurance, and sick pay, that employees receive from their employer in addition to money: »For working parents, childcare can be one of the most valuable employee benefits a company offers.
»The company offers a generous benefits package that includes private healthcare and a free on-site gym.
► [C] INSURANCE payment from an insurance policy or a pension plan: »Last year, the UK insurance industry paid out nearly £188 million every day in pension and life insurance benefits.
»50 is the earliest age the law allows people to receive their pension benefits.
»His wife will receive his full benefits when he dies.
→ See also ACCELERATED DEATH BENEFIT(Cf. ↑accelerated death benefit), ACCIDENT AND HEALTH BENEFIT(Cf. ↑accident and health benefit), ACCRUED BENEFITS(Cf. ↑accrued benefits), CHILD BENEFIT(Cf. ↑child benefit), COST-BENEFIT(Cf. ↑cost-benefit), COST-BENEFIT ANALYSIS(Cf. ↑cost-benefit analysis), DEATH BENEFIT(Cf. ↑death benefit), DEFINED-BENEFIT(Cf. ↑defined-benefit), DISABILITY BENEFIT(Cf. ↑disability benefit), EMPLOYEE BENEFIT(Cf. ↑employee benefit), FLEXIBLE BENEFIT PLAN(Cf. ↑flexible benefit plan), FRINGE BENEFIT(Cf. ↑fringe benefit), HOUSING BENEFIT(Cf. ↑housing benefit), INCAPACITY BENEFIT(Cf. ↑incapacity benefit), INDUSTRIAL INJURIES BENEFIT(Cf. ↑industrial injuries benefit), MATERNITY BENEFIT(Cf. ↑maternity benefit), SICKNESS BENEFIT(Cf. ↑sickness benefit), SOFT BENEFIT(Cf. ↑soft benefit), STATE BENEFIT(Cf. ↑state benefit), TAXABLE BENEFIT(Cf. ↑taxable benefit), UNEMPLOYMENT BENEFIT(Cf. ↑unemployment benefit), WELFARE(Cf. ↑welfare), WELFARE BENEFIT(Cf. ↑welfare benefit)Ⅱ.benefit UK US /ˈbenɪfɪt/ verb (-t-, -tt-)► [I] to be helped by something: »Investors will benefit because our advisers will be able to offer high quality advice.
benefit from sth »Many oil companies benefited from the rising price of crude oil.
► [T] to help someone: »The new travel scheme, offering free travel, benefits people over the age of 60.
Financial and business terms. 2012.
