PPS rolls out retirement annuity for members
PPS Insurance Namibia, the provider of intelligent financial solutions exclusively for graduate professionals, has introduced the PPS Namibia Retirement Annuity, a comprehensive, long-term savings and investment solution for its growing Namibian membership base.The retirement annuity offers a tax-efficient solution to maximise growth and ensure retirement income, the company said. It allows flexibility to pause, resume and change contributions without facing penalties and allows members to choose from a range of underlying investment options, enabling them to adjust their investment strategy as their risk profile evolves, it added.
A team of seasoned investment professionals will be dedicated to delivering exceptional investment solutions through a diverse range of portfolios with investment horizons to meet members’ unique needs and risk profile and deliver against their financial goals and retirement savings.
“Off the back of our exceptional 2023 performance, we aim to strengthen the well-being of our 5 500 members with our long-term investment focus. The PPS Namibia Retirement Annuity solution will help members to grow their investments and assist in providing a steady reliable income stream throughout retirement,” CEO Johan van der Westhuizen said.
PPS Namibia is the largest financial services company of its kind in Namibia that focuses exclusively on graduate professionals, creating products and designing services catering specifically for their needs. The strength of the company's mutual model lies in its dedication to delivering shared success, it said. Premiums paid by members holding qualifying products contribute to the overall returns. These returns are then allocated to members’ notional PPS profit-share account, where they are invested on behalf of the members. "Over time, these allocations grow and become accessible at retirement, providing members with a valuable supplement to their retirement savings," it noted.
“PPS Namibia remains true to our purpose, to focus on our members, given the long-term nature of their tenure with us. We do this by delivering exceptional value and assisting them to prepare for the lives they want to live beyond retirement,” Van der Westhuizen said.