04 September 2017
Monday 4 September 2017
The recent 4Corners program showing some retirement village residents in awful situations reveals profit is driving some industry players, with limited consumer protection and gaps between federal and state regulation. See the ABC report HERE.
The state government overhauled retirement village laws in 2013 to create more transparency on contract fees and charges, with an online calculator to identify real costs, and increased compliance, but this does not help people who entered into contracts prior to the changes and improvements for those on newer contracts are unclear. I’ve followed up with questions in Parliament HERE.