Insurer announces risk-only super fund
Specialist insurance company PPS Mutual is making moves into the superannuation space, today announcing the launch of a risk-only super fund with financial technology and infrastructure company, Sargon, as trustee.
The PPS Mutual Super Fund’s major selling point would be that members could fund their insurance premiums via rollovers from their standard accumulation super funds, which the company said had been especially requested for younger medical, legal, accounting and engineering graduates.
PPS Mutual was, pertinently, supported by PPS South Africa, home to the largest multi-disciplinary group of graduate professionals in the world.
According to the company, the option to pay insurance premiums through super also reflected that extra flexibility also reflecting the increasing importance to advisers of offering flexibility to clients.
Director of proposition for PPS Mutual, Matthew Pilcher, believed that another differentiating factor of the company’s offering was that members would have more of a stake in the product, as the business was structured as such that Australian professional members shared in the profits.
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