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.

Tuesday, 3 July 2018

Friends Of Kellock Lodge

Residents of Alexandra north of Melbourne are fighting back against the takeover of their Anglican aged care facility by Bishop John Parkes (Diocese of Wangaratta).

A Facebook page has been opened to allow residents and interested parties to express their view of what is happening and provide suggestions for a defensive action against the Bishop (Diocese).

Concern has been expressed at public meetings in Alexandra that the move of the Bishop (Diocese) has more to do with rescuing a seemingly financially troubled Anglican aged care facility in Wangaratta.

The Friends of Kellock Lodge page can be found at this link - https://www.facebook.com/groups/176887356502474





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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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