WHO WE ARE AND WHAT MAKES US DIFFERENT The PPS story Throughout the years, PPS has unfailingly demonstrated remarkable resilience, recorded steady growth and provided reliable services to our members without disruption. The fact that we continue to do so today, despite the many challenges we have faced as a business and a society over the past three years, is testimony to the vision and objectives of our founders. PPS was established in 1941 by a group of eight hardworking dentists who wanted to protect their ability to earn an income. Even then, a financial model that enabled a group of people to benefit from pooled resources was rare in financial circles. The values inherent in mutuality still inform every aspect of our business, from how it is structured to how innovations are designed and implemented. At PPS, we have members rather than shareholders; highly educated professionals who are eligible for PPS membership because they hold suitable postgraduate qualifications. Members, who enjoy our wide range of products including life and short-term insurance, investments, healthcare and various advisory services also share in the operating profits generated by PPS. Profit-Share is allocated annually to members’ notional PPS Profit-Share Accounts™, which grow with investment returns and further profit allocations. The PPS ProfitShare Account of a member vests on retirement from age 60 subject to contractual requirements. The PPS Profit-Share Account accumulates profits simply as a result of a member having a qualifying product. Over the years, we have steadily expanded our product range, moving beyond our initial focus of income protection to include a comprehensive selection of financial products and solutions. Today, the Professional Provident Society Insurance Company Limited is a registered financial services provider. Our members include leading academics, captains of industry and prominent members of the various professional sectors. Our mission and values express what we aim to deliver to our members. Our mission It is our mission to enhance the financial security of our members and we aim to ensure that, from a financial perspective, they can live the lives they want to live. We deliver on this mission having evolved into a diversified financial services group that not only provides exceptional insurance benefits – both long and shortterm– but also investments, fiduciary services and various wealth and advisory services especially designed for graduate professionals. We help our members to secure their current and future financial positions by providing peace of mind throughout their professional careers and during their retirement years. Izak Smit Group Chief Executive Officer At PPS, we do not have shareholders, we have members: graduate professionals who qualify for membership and the benefits of that membership.” “ 4 Who we are and what makes us different
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