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Annuities & Pensions Insurance Q & As
Question 17 of 31 in Basics
Can I take money out early from a spda?
You may find that unexpected expenses or business opportunities prompt you to make unanticipated withdrawals. Deferred annuities (unlike immediate annuities) generally have a provision allowing some money (often 10% per year) to be withdrawn. But charges and tax penalties may be incurred for early withdrawals, since an SPDA is intended for long-term investment. Make sure you understand the particulars of a plan before you buy it.