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Purchased income stream

A purchased income stream is an income stream where the recipient buys an investment with a lump sum, known as the purchase price. The repayments are fully determined by the purchase price.

 

 

Section 5J(1) of the VEA defines a purchase price, in relation to an income stream, as the sum of the payments made to purchase the income stream (including amounts paid by way of employer and employee contributions), less any commuted amounts.

 

 

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