The Transfer of Intergenerational Wealth

"Families need to be aware that what we are talking about here is the transfer of intergenerational wealth, not to families, but into the pockets of large multi-nationals.

Shame about elderly people not having enough money for aged care."

Tom Gait, Retirement Village Residents Association.

Saturday, 28 April 2018

Dispute Settlement Centre of Victoria Assisting in Retirement Village Disputes

The Dispute Settlement Centre of Victoria advises DSCV assisting in retirement village disputes.

"DSCV will now provide appropriate dispute resolution services for retirement village residents or management who need assistance.

Previously, Consumer Affairs Victoria provided a conciliation service for disputes between a resident and a manager, while disputes between residents could be taken to DSCV.

Consumer Affairs Victoria will continue to educate retirement village operators and managers about their legal obligations, and address any breaches of the law.

Residents and managers can still contact Consumer Affairs Victoria for information on their rights and responsibilities, including the steps they can take if there is a dispute.

Consumer Affairs Victoria recommends that residents and managers should first try to resolve any complaint or dispute through the village’s internal dispute resolution scheme.

For more information on legal obligations for retirement village operators and managers, visit the Consumer Affairs Victoria website.

For information about the range of dispute resolution services provided by DSCV, visit our mediation page."

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Function of Government

The role of government is to create an environment for commerce to function whilst at the same time protecting retirees and particularly vulnerable retirees from both financial and emotional harm emanating from that function.

The Victorian Retirement Villages Act 1986 provides the environment for commerce to function but fails to fully protect retirees from financial and emotional harm as a result of it.

The Victorian legislative definition of a retirement village in demanding the payment of an 'in-going' amount without the transfer of property ownership is a major contributor to that financial and emotional harm suffered by retirees.


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