Dictionary

loanback en · NOUN

Etymology

From loan + back.

Meanings

1. (countable, uncountable) A loan made from a pension or annuity to someone who has contributed money to that pension or annuity.
   • Furthermore, the Target plans provide a guaranteed loanback facility with loans from as little as £5,001. 1987, Accountancy - Volume 99, page 13:
   • Most of the plans have loanback facilities, which allow you to use your pension to get a loan. 2014, Sara Williams, The Financial Times Guide to Business Start Up 2015, →ISBN:
   • For example, a unit-linked office may require the borrower to have part at least of his personal pension premiums invested in units in a special fund from which the office makes loans to loanback borrowers. 1982, Norman Toulson, Modern Pensions, page 134:
2. (countable, uncountable) A loan from a trust fund to the grantor that created the fund.
   • The following, in combination, may avert an implication of prior agreement: (a). Use of an independent trustee; (b). Reasonable time between creation of trust and loanback. 1984, Resource Materials: Estate Planning in Depth - Volume 2, page 583:
   • A more modest approach is for the parent to give money to a child, followed by a loanback to the parent. 1990, Richard A. Westin, Federal Tax Planning, page 23:
   • A prearranged loanback of the entire gift property itself (rather than just the income therefrom) may well be disregarded as being merely a grantor retained control over the property, thereby causing the entire amount of the "loan" to be included in the grantor's estate. 1983, Malcolm A. Moore, Use of Trusts in Estate Planning, page 434:

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