MUTUALITY About The ethos of mutuality is sacrosanct and core to our identity; it drives everything we do. When individuals join PPS they start a lifelong journey based on trust and reciprocity. In 2023, more than 1 800 PPS members retired. Many of them had been members since their student days and entrusted us with their financial well-being throughout their careers. Over time, they would have faced challenges and experienced life events that led to claims. However, they will attest to the value of our mutual model which is proven by the R353 million that was paid to them, in the form of Profit-Share, as their share of PPS’s success. Review of 2023 In 2023, PPS embarked on a journey to reimagine and expand the concept of mutuality as lived by our company. Naturally, we are keeping the best elements such as sharing PPS’s returns with our members through our innovative PPS Profit-Share Account™ and the PPS Profit-Share Cross-Holdings Booster. Mutuality is also finding ways to create more value for members by leveraging the network effect of PPS. For example, Family Network, an investment concept pioneered by PPS Investments, helps members to reduce fees by taking advantage of the collective scale of their family members’ individual investments. Our emphasis on youth and skills development has deepened our connection with universities. Through our University Support programme we allocate grants to universities to fund capital projects, which has helped strengthen our relationship with academic institutions. We are committed to nurturing tomorrow’s professionals and have invested in the training and skills development of educators in mathematics and science through our partnership with the Vula and Vuma programmes – both running in KwaZulu-Natal via Hilton College. There are many other initiatives which are housed under the broader mutuality banner. The launch of the South African Health Business Academy (SAHBA) – a business skills development initiative for medical practitioners – was a resounding success. The Transition to Practice and Practice Growth Strategies programmes were designed to provide members with a better understanding of the business aspects of running a practice. The goal of these programmes is to help practitioners to optimise their time so that they can enjoy the benefits of both running a successful practice and living a fulfilling life. Members who attended the SAHBA programme got a sneak preview of our digital tools under development. These tools aid in crafting financial roadmaps and enhancing overall well-being. 9 Mutuality
RkJQdWJsaXNoZXIy MTY2ODY3Ng==