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.

Thursday, 5 July 2018

The Case For Retirement Village Reform In Pictures

Retirement Village reforms have been a hot topic since the ABC 4 Corners program 'Bleed Them Dry Until They Die' in 2017.

This 15 page e-book shows the need for retirement village reforms by showing the financial impacts upon retirees on entering a retirement village more in pictures (tables) rather than words.

The book can be read here

https://issuu.com/retvilldotnet/docs/the_case_for_retirement_village_ref_311950df6df1d2

or downloaded here -

https://www.keepandshare.com/doc5/23104/the-case-for-retirement-village-reform-in-pictures-pdf-4-4-meg



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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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