Single Premium Deferred Annuity

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Single Premium Deferred Annuity

An annuity purchased with a lump sum payment by the annuitant, who does not begin to receive payments until some future date. Like all deferred annuities, an SPDA has two phases, a savings phase and an income phase. The savings phase involves the annuity taking the lump sum payment and investing it on behalf of the annuitant. In the income phase, the annuitant receives payments. It is important to note that an SPDA, like all deferred annuities, is not taxed until the income phase begins. It also pays a death benefit to the survivor(s) of the annuitant. See also: IRA, 401(k).
References in periodicals archive ?
He was Basilan governor from 1988 to 1998, congressman from 1998 to 2007, and then went back to private life until his appointment to SPDA as administrator by President Rodrigo R.
"I envision SPDA to be a strong performing GOCC that can truly transform the socioeconomic landscape of Mindanao pursuant to advocacy and to the dream of the President to make Mindanao southern frontier, not the southern backdoor," Salapuddin.
Though the program has been in the works for a while, they started having students come to the prospectors' meetings to present their projects in January, according to Blake Mobray, a master's who also serves as a student liaison with the SPDA.
An estimated crowd of 5,000 people coming from the academe, city government, and former rebel fighters of the Moro Islamic Liberation Front led by Mohaquer Iqbal, peace advocate, local government unit led by Roderick Furigay, and Southern Philippines Development Authority (SPDA) chair Abdulgani Salapuddin, among others, participated in the rally.
The Commission on Audit (COA) has questioned the books of account of the Southern Philippines Development Authority (SPDA), which listed 10 parcels of land valued at only P1 each.
'The feud between Mayor Sara and SPDA (Alvarez) is all about power that's consuming both parties and fanning these intramurals among Duterte loyalists,' Villarin said in a statement.
El trabajo de campo se realizi?1/2 en una de las i?1/2reas de conservacii?1/2n regional (ACR) recientemente creadas (2011) y que se encuentra dentro del Sistema Regional de i?1/2reas de Conservacii?1/2n de Lambayeque (SPDA & GIZ, 2008): Huacrupe La Calera.