benefit
noun
uk/ˈbenɪfɪt/ us [ 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
[ 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
accident and health benefit
accrued benefits
child benefit
cost-benefit
cost-benefit analysis
death benefit
defined-benefit
disability benefit
employee benefit
flexible benefit plan
fringe benefit
housing benefit
incapacity benefit
industrial injuries benefit
maternity benefit
sickness benefit
soft benefit
state benefit
taxable benefit
unemployment benefit
welfare
welfare benefit
benefit
verb
uk/ˈbenɪfɪt/ us-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.