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Financial Solutions 4 Professionals
is a wholly-owned subsidiary of PPS Insurance. PPS established its own
brokerage, Financial Solutions 4 Professionals (Pty) Limited (FS4P) during 2018, to provide a vehicle for supporting
agents that are not able to sell PPS due to Retail Distribution Review regulation, which came into effect on
1 January 2018. The company also facilitates a defensive strategy to protect members linked to these agents
against competitor activity.
The Professional Provident Society Foundation Trust
is a trust founded by PPS Insurance and registered by the
Master of the High Court in 2016 in terms of the Trust Property Control Act of 1988. It has the principal objectives
of working with strategic partners to improve access to Science, Technology, Engineering and Mathematics
(STEM) related professions and build the professional pipeline, especially the scarce skills disciplines, making a
measurable contribution to sustainable development within South Africa’s communities (as defined in the DTI
B-BBEE Codes of Good Practice) and the Financial Sector Charter and ensuring that the Foundation’s funds are
spent on real sustainable, measurable benefits in support of the professional pipeline being created.
The Professional Provident Society Educational Trust
is a trust founded by PPS Insurance and registered by the
Master of the High Court in 2016 in terms of the Trust Property Control Act of 1988. It has the principal objectives
of securing financial support that makes a meaningful impact on public education in South Africa by improving
access to STEM and related professions in order to build the professional pipeline, serve as a repository for all
the donations from the donors, making grants to the Beneficiaries from the Trust Fund to make a measurable
contribution to sustainable development by obtaining and deploying funding to advance education and offering
bridging programmes between secondary and tertiary education and the workplace.
Professional Provident Society Training Academy (Pty) Limited
was incorporated by PPS Insurance and
registered by the CIPC on 19 July 2016, and is a 51% subsidiary of The Professional Provident Society Educational
Trust and operates as a training academy for the PPS Group.
GOING CONCERN
The financial statements have been prepared on the basis of accounting policies applicable to a going concern.
This basis presumes that funds will be available to finance future operations and that the realisation of assets and
settlement of liabilities, contingent obligations and commitments will occur in the ordinary course of business.
FINANCIAL RESULTS
The financial results on pages 96 to 184 set out the results of the Trust and the PPS Group (comprising PPS Holdings
Trust and all its subsidiaries) for the financial year ended 31 December 2018.