Definition of Fixed income
That species of income which does not fluctuate over a period of time such as interest on bonds and debentures or dividends from preferred stock as contrasted with dividend income from common stock. May also refer to income received by retiree from pension, annuity, or other form of fixed retirement benefit or income.
That's the definition of Fixed income in Black's Law Dictionary 6th Edition. Courtesy of Cekhukum.com.