an Apportionment Account allocation of R30 per R1 000 average market value over the year .
• Profmed membership since the start of the year at a monthly contribution of R5 000 , but that ceased at the end of August and which attracts an Apportionment Account allocation of 4 % of contributions made during the year .
• PPS Short-Term Insurance policy with R1 500 monthly premium taken out in July and still in-force at the end of the year , and which attracts an Apportionment Account allocation of 2 % of premiums paid during the year .
The pop-up tables show the normal Apportionment Account allocations that this member receives at the end of the year . It is important to note that since this member has an active Profit-Share Account ( PSA ) at the end of the year , ( s ) he will still receive Profmed bonus allocations based on contributions made during the year , even though Scheme membership ceased before the end of the year . This is in line with current practice for PPS Investments as well , and how PPS Short- Term Insurance allocations are intended to be applied .
The following pop-up table shows the Booster tier and % the member participates in for each month , based on the number of holdings the member has across the Group each month . For example , should a member hold products in all four subsidiaries , they would qualify for a top Booster tier ( 27.5 %).
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The next pop-up table explains the additional Booster allocations this member receives every month . This member received a 27.5 % Booster , in July and August , on top of his / her normal Apportionment Account allocation which is effectively a weighting of his / her contribution sizes to each subsidiary and the time for which ( s ) he held these products .
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Unlocking the benefits
At PPS , we embrace mutuality and believe that success is better shared . Up until 2019 , 6 804 PPS members accumulated more than R1 million in their Profit-Share Accounts . While in 2019 , R4.2 billion in total profits was allocated to members ’ PSA . This is achieved by applying for Profit-Share linked PPS Provider products across our business lines .
Funds accumulated in a members ’ PSA vests at retirement ( tax free ), on death ( tax free ) or on policy cancellation ( after forfeitures ). An additional benefit is that from the age of 55 , members have the option to select the investment strategy of their PPS PSA retirement plan .
The more qualifying products a member has , the greater the benefit to building a strong PSA that takes advantage of the full range of opportunities provided through PPS .
DISCLAIMER : Please remember that past performance may not be indicative of future performance or results
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