The equivalent lump sum value of a pension at the start date. (ato.gov.au)
If the income is shared to pay alimony, then it might be unfair to divide the lump sum value of the practice in equitable distribution (which would be a double dip). (familylawtaxalert.com)
The idea is to determine the lump - sum value today of, for example, a promised $ 20,000 annual pension payable 20 years from now. (moneysense.ca)