WHO WE ARE AND WHAT MAKES US DIFFERENT The PPS story For more than eight decades, PPS has demonstrated remarkable resilience, recorded growth and consistently provided valuable services and peace of mind to our members. The fact that we continue to do so today, despite the challenging environment we have navigated in recent years as a business and a society, is testimony to the vision and objectives of our founders. PPS was established in 1941 by a group of eight forwardthinking dentists who wanted to protect their ability to earn an income. Even at that time, the model they chose was rare in financial institutions; a mutuality model that enables a group of people to benefit from pooled resources. The values inherent in this model still inform every aspect of our business. In addition to enjoying the benefits of our wide range of solutions, including life and short-term insurance, investments, healthcare, fiduciary and advisory services, members also share in the returns generated by PPS. The greater the members’ contributions to and participation in qualifying products, the greater their share in the form of allocations to the notional PPS Profit-Share Account™ (PPS Profit-Share Account™). These allocations grow through investment returns and further allocations to become a valuable asset for members in their personal financial planning. Starting out with income protection, we have steadily expanded our range over the years to include a comprehensive selection of financial products and solutions. Today, the Professional Provident Society Insurance Company Limited (PPS) is a registered financial services provider. Our multi-generational membership comprises industry leaders and academics, pivotal in serving South Africa’s populace and economy. Our mission and values express our commitment to our members. Izak Smit Group Chief Executive Officer In the South African financial services landscape, PPS takes a distinct approach. Rather than shareholders, we have members – graduate professionals who qualify for membership and the benefits of that membership based on their qualifications. When the Group was established more than 80 years ago, its forwardthinking founders aimed to create a community that would ensure personal security and generate wealth for these professionals. Our enduring mutuality model, resilient through wars, social upheavals and economic uncertainties, remains steadfast in delivering unwavering services. Each year, we allocate Group returns equitably to qualifying product-holding members, ensuring continuing sustainability. “ “ 5 Who we are and what makes us different
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