PPS Insurance

General information

PPS boasts in excess of 350 000 members who enjoy access to a comprehensive suite of financial and healthcare products that are specifically tailored to meet the needs of graduate professionals.

PPS is the largest South African company of its kind that still embraces an ethos of mutuality, which means that it exists solely for the benefit of its members. Thus, members who are policyholders can exclusively share in the profits of PPS Insurance and those who have PPS Investments products can also share in the profits of PPS Investments.

PPS membership provides access to the following tried, tested and trusted products and services: PPS Insurance, PPS Short-Term Insurance, PPS Financial Planning, PPS Investments and Profmed Medical Scheme. Visit www.pps.co.za for more information.

PPS is an authorised financial services provider.

PPS offers unique financial solutions to select graduate professionals with a 4-year degree. PPS is an authorised Financial Services Provider. Members with qualifying products share in the profits of PPS.

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.

2012 - PPS members are allocated a record R3 billion in profits. PPS group also announces total assets reach R21.7 billion

2013 - Launch of PPS-Profit Share Account (previously known as Surplus Rebate Account / SRA)