The origin of the Ceylon Planters’ Provident Society (CPPS) may be said to have emanated from a letter written by the Haputale District Planters’ Association in 1919. This letter suggested the formation of a Planters’ Pension Fund and was considered at the General Committee Meeting of the Association held on 9th May that year in Kandy. A Scheme was duly drawn up and forwarded to the Ceylon Association in London with a request that expert advice be obtained.
In 1921, Mr J B Coles reported at the meeting held on 11th March that he and Mr H D Garrick had consulted various Actuaries and other Insurance Experts in England and had now produced a scheme for insurance which they believed to be practicable.
In the meantime investigations had been proceeding as to the possibility of establishing an investment or provident fund wherein planters would be able to invest small sums of money at any time and which would, it was hoped, be of great benefit to the community.
No progress was reported in 1922, but in May, 1923, the Kalutara District Planters Association forwarded a resolution for consideration which read as follows:-
“That in the interest of the Planting Community, the scheme for a Provident Fund has already been mooted at Kandy, should be made compulsory for all planting employees in the Island.”
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In September that year the rules and regulations of the proposed Ceylon Planters’ Provident Society were accepted in principle and at the General Committee Meeting in November it was agreed that the rules should be printed and submitted to each member o f the Association.
Thereafter the rules were referred to the Association’s legal advisers and in March, 1925, leaflets were distributed to all members of the Association pointing out that the Association proposed establishing a Provident Fund for the benefit of members and outlining the Scheme in general detail.
Towards the end of the year the final draft rules were accepted and the Ceylon Planters’ Provident Society was inaugurated at a meeting held in Kandy on the 10th of March, 1926.
The following are extracts from the first Annual Report of the Society:-
Assuming a total of 1,500 Planters in Ceylon qualified for membership, the possible membership would be 750, and at the end of the year the actual membership totaled 331.
It is to be hoped that in future not only will every recruit to the planting ranks be permitted to join, but that membership of one or other of the Provident Funds will be made a condition of employmment.
These early assessments of potentionl membership and stability of the Society proved correct and membership exceeded the 750 mark in 1946.Today the membership of the Society is in excess of 1,700 and the EPF Act makes it mandatory that every employee should contribute to an approved provident fund. While providing the membership with a reasonable return, CPPS members enjoy the added facilities of Housing Loans, Educational Loans and Life Insurance.
The Association has always been the Trustee of the Society whose development is another example of the progressive ideals for which the Association has always strived throughout its existence.
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