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PPS South Africa

https://www.pps.co.za/

PPS is the largest South African company of its kind, exclusively for graduate professionals, that embraces an ethos of mutuality, which means that it exists solely for the benefit of its members. Members receive profit allocations based on the qualifying life risk products they hold with PPS. Thus, PPS members with qualifying products could share in the profits of PPS Insurance, PPS Investments, PPS Short-Term Insurance and PPS Healthcare Administrators via annual allocations to the unique PPS Profit-Share Account. In addition, the more products members hold across these PPS businesses, the larger their percentage of earnings through the PPS Cross-Holdings Profit-Share Booster.
PPS membership provides access to the following tried, tested and trusted products and services: PPS Life Insurance, PPS Short-Term Insurance, PPS Financial Advisory, PPS Investments and Profmed Medical Scheme.

Visit www.pps.co.za for more information.

PPS is a Licensed Insurer and Financial Services Provider.

The history of PPS is a dynamic story of how the vision of a few pioneering professionals laid the groundwork of what has become the largest multidisciplinary group of graduate professionals in the world.

A brainchild of a group of eight dentists, PPS was founded as the Professional Provident Society of South Africa on 8 July 1941, during the height of the Second World War. These founding fathers sought to find a better system of financial protection as a consequence of being unable to practice as a result of sickness or injury, looking towards the Dentists Provident Society of the UK, formed in 1908, for a model on which to base their own society – its objectives perfectly matching their own needs.

It is noteworthy to mention that despite all the changes that PPS has undergone over the intervening years, these objectives still today form the underlying rationale for the Group’s modus operandi.

PPS MILESTONES

1941 – Professional Provident Society of South Africa was founded
1960 – Professional Provident Society Retirement Annuity Fund was established
1972 – The eligibility rules were amended to provide membership for students
1980 – Eligibility rules were amended to provide membership to professionals who were not members of a recognised professional association
1998 – The Board agreed that persons with certain Technikon degrees could also be considered for membership
2001 – PPS was effectively transformed into the PPS Group, consisting of PPS Limited (Limited by Guarantee) and PPS Insurance Company Limited that was registered to provide benefits as a long-term insurance company
2003 – Professional Provident Society Insurance Company (Namibia) Limited – a subsidiary of PPS Insurance – was established
2005 – PPS Medical Scheme Administrators (Pty) Limited was established to administer Profmed
2006 – Professional Provident Society Investments (Proprietary) Limited was established to service the savings and investment needs of PPS members
2006 – BEE transaction announced in 2006, well ahead of the 2010 schedule set out by the DTI's Codes of Good Practice
2007 – PPS Investments range of products launched
2007 – PPS Insurance launched a new range of risk products and enhanced existing risk portfolio
2009 – PPS Medical Scheme Administrators (Pty) Limited started administering multiple schemes
2011 – PPS Limited (Limited by Guarantee) is transformed into The PPS Holdings Trust, as a consequence of the new Companies Act, which no longer provides for companies limited by guarantee
2013 – Launch of PPS Profit-Share Account (previously known as Surplus Rebate Account / SRA)
2017 – PPS Short-Term Insurance launches a business insurance solution
2019 – Launch of the PPS Health Professions Indemnity
2020 – Launch of the Profit-Share Cross-Holdings Booster