benefit


benefit
See security proceeds Euroclear Clearing and Settlement glossary

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I. benefit ben‧e‧fit 1 [ˈbenfɪt] noun
1. [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 illness
ˈchild 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 education
disaˈbility 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 properly
ˈhousing 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.

3. [countable] INSURANCE money paid out on certain insurance policies, especially health insurance:

• 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] INSURANCE
a 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 RESOURCES
things 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 shares
ˈfringe ˌbenefit [countable] HUMAN RESOURCES
an 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 verb
1. [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.

Compare CAFETERIA PLAN(Cf. ↑cafeteria plan)
[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.

Synonyms:

Look at other dictionaries:

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  • benefit — vb Benefit, profit, avail mean to do good or to be of advantage to someone. Benefit usually implies personal betterment or improvement (as of one s physical, intellectual, moral, or spiritual condition), but it may suggest enrichment or a… …   New Dictionary of Synonyms

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  • Benefit — Ben e*fit, n. [OE. benefet, benfeet, bienfet, F. bienfait, fr. L. benefactum; bene well (adv. of bonus good) + factum, p. p. of facere to do. See {Bounty}, and {Fact}.] 1. An act of kindness; a favor conferred. [1913 Webster] Bless the Lord, O my …   The Collaborative International Dictionary of English

  • Benefit — ist der Name mehrerer Orte in den Vereinigten Staaten: Benefit (Georgia) im White County im Bundesstaat Georgia Benefit (Virginia) im Gemeindegebiet der Stadt Chesapeake im Bundesstaat Virginia Diese Seite ist eine Begriffsklärung zur… …   Deutsch Wikipedia

  • benefit — [n1] advantage, profit account, aid, asset, assistance, avail, benediction, betterment, blessing, boon, cream*, egg in one’s beer*, extras, favor, gain, godsend*, good, gravy*, help, interest, perk*, profit, prosperity, use, welfare, worth;… …   New thesaurus

  • benefit — [ben′ə fit, ben′əfət] n. [ME benefet < OFr bienfait, a kindness < L benefactum, meritorious act < benefacere: see BENEFACTION] 1. Archaic a kindly, charitable act; benefaction 2. a) gain or advantage [tax legislation for the benefit of… …   English World dictionary


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