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.

Wednesday, 27 June 2018

Bishop's Plan for Kellock Lodge Rejected by Public

The Local Paper reports -

Alexandra locals have expressed their displeasure at Bishop John Parkes and the Diocese of Wangaratta.

Bishop Parkes has declared that Kellock Lodge in Alexandra is to be merged with what appears to be a financially troubled St. Johns Village in Wangaratta.

Alexandra locals claim St. Johns is not coming to the rescue of Kellock Lodge, Kellock Lodge would be coming to the rescue of St. Johns. The move by the Bishop (Diocese) is to force us to do so

See the full report here - https://issuu.com/mediaflash/docs/lpy_kellockreport

Image credit to the Local Paper

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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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