Ownership
Avant is a mutual, owned by its members and run for their benefit.
Being member-owned ensures our focus is the membership. There are no shareholders, which is why we are by doctors, for doctors.
✔ Purpose - We seek to meet more members’ needs and support the profession, always acting in the best interests of the membership.
✔ Representation - Avant is overseen by a board that includes six member-elected doctor directors, with one being selected as Chair.
✔ Profit - As owners, members share in Avant’s financial success. Profits are used to benefit members and the profession.
Purpose
Serving members the best we can is central to our purpose. To meet more of our members’ needs, we have a wide range of products and services tailored for the medical profession.
Representation
Members have a strong voice in how Avant is run. They elect fellow doctors to represent them on the Board of directors, are on our many advisory bodies and on staff.
Profit
Any surpluses are invested to benefit members and the profession. This includes supporting discounts and the Retirement Reward Plan+ that returns funds to eligible members as dividends.
The Retirement Reward Plan payment I received from Avant was a very unexpected and pleasing benefit of being a member of a mutual group.
"⁺The Retirement Reward Plan reflects the current policy of the Board for determining which members of Avant are eligible to participate in the Retirement Reward Plan and any Retirement Reward Dividends declared by Avant. The Retirement Reward Plan is entirely at the discretion of the Board and no member will be eligible to receive a Retirement Reward Dividend until such time as the Board declares a dividend in favour of that member. The Retirement Reward Plan is subject to change, suspension or termination by the Board at any time. The current eligibility criteria and allocation rules are available at avant.org.au/arrp/.