L
Lease: see finance lease.
Lessee: the user of the goods in relation to a lease.
Lessor: the owner of the goods in a lease, usually a finance company or bank
Lifetime pension or annuity: a retirement income investment where an individual invests their superannuation or other money and receives an income periodically. The capital is not accessible, and there is little income flexibility. The payments are guaranteed to be made for the person’s lifetime.
Liquidate: to sell an investment or to convert an investment into cash.
Listed security: a security which is bought and sold via an exchange, such as shares on the stock exchange
Loss: occurs where the sale price of an asset is less than the initial cost.
Lump Sum: a cash payment from a superannuation fund.
Lump Sum Tax: tax payable on a lump sum (ETP) benefit payment from a superannuation fund.