You could also buy a purchased life annuity, where the majority of the income is classed as return of capital.
What does PLA stand for?
PLA stands for Purchased Life Annuity
This definition appears somewhat frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of PLA
We have 273 other meanings of PLA in our Acronym Attic
- Proliteracy America (education)
- Property Law Act (various locations)
- Property Lease Agreement
- Provincial Liberal Association (Ontario, Canada)
- Provincial Licensing Authority (South Africa)
- Public Land Acquisition
- Public Lands Act (Canada)
- Public Library Association
- Public Library Authority (various locations)
- Pull Accumulator from Stack (6502 processor instruction)
- Pure Love Alliance
- Pylon Loading Adapter
- People's Liberation Army Navy (China)
- Polyesters Derived from Lactic and Glycolic Acids
- Plain Language Address/Office Symbol
- Plain Language Address/Routing Indicator
- Phosolipase A2 (enzyme)
- Poly-L-Aspartic Acid
- Poor Law Amendment Act
- Present Level of Academic Achievement (student performance)
Samples in periodicals archive:
Other earnings such as salary, whether it be full time or part time, rental or investment income or even a purchased life annuity will be ignored.
Q I DON'T need the tax-free cash from my pension but am thinking of taking it and buying a purchased life annuity at the suggestion of my adviser.
Another alternative is a purchased life annuity, which will give you a guaranteed level of income but you would lose access to your capital.
AAN annuity bought with money from your savings and not from a pension fund is known as a Purchased Life Annuity.
In addition to a CPA, retirees may also buy a Purchased Life Annuity (PLA) using their own personal savings.