- PPS Profit-share
PPS members contribute a portion of their premiums towards their Profit Share account which can be vested at age 60.
PPS members can annually elect the underlying portfolio of the account. The options are:
- Fixed Interest
- Low Equity
- Medium Equity
- Default Pooled portfolio (High Equity)
PPS will send communication to members from 5 October and have until 13 December 2023 to make this decision.
The PPS Profit Share account can be used to supplement retirement and is a good opportunity to review your retirement goals.
- Annual Benefit Increase
Year on year consumer inflation is currently 4.8%, this off course is a product of rising costs of goods and services.
To keep up with inflation, insured benefits may also escalate annually to prevent an erosion in long-term value. It may also be effective in keeping in line with your income and the needs surrounding the ability to earn it.
The PPS Insurance Board declares the annual increase in communication to PPS members closer to the end of the year. The increase is effective form 1 January every year and was set at 7.5% for 2023.
PPS members can decide whether to accept PPS’s Declared Annual Benefit Adjustment or decline it.
What are these benefits?
• Business Assurance
• Life cover
• Critical Illness cover
• Disability cover
• Income Protection cover
An increase in benefit will mean an increase in premium, but free of underwriting.
Ruvan J Grobler RFP™
*This only serves as factual information and not as financial advice.