Thursday, 30 August 2018

Shift in Accommodation Payment Choices

Australian Ageing Agenda reports -

"Daily payments were preferred over lump sums to pay for residential aged care accommodation in 2016-17, the first time since the 2014 reforms, the sixth Aged Care Financing Authority report shows."

The full story can be read here -

The full Aged Care Financing Authority report can be read here -

aged care financing authority

Legislators Fail to Understand Financial Forces

Legislative Bias Toward Retirement Village Operators

Saturday, 25 August 2018

Federal Regulation for Retirement Villages ?

Rent Assistance Anomaly in Retirement Villages

Are Retirement Village Business Models Fair and Resonable

Legislators Fail Retirement Village Residents

Tuesday, 21 August 2018

Legislators Continue To Fail Retirees

Retirement Villages Look Before You Leap

Push for Aged Care Nursing Patient Ratios

Loss of Capital Value by Retirees

Monday, 20 August 2018

Retirement Villages - Nothing Has Changed

Sunday, 19 August 2018

Alan Kohler 2014 Article

A $25 Loan Can Change A Life

Retirees Negative Financial Destiny

Retirees Downsize To Potential Financial Trap

Thursday, 16 August 2018

Kellock Lodge Aged Care Agreement Reached

The residents of Alexandra in Victoria have reached an agreement with Bishop John Parkes to purchase the aged care bed licences and take full control of the local aged care facility from the Anglican Diocese of Wangaratta.

Bishop Parkes was working toward an amalgamation with the Anglican aged care facility in Wangaratta. See previous story - Community Backlash For Actions Of Anglican Bishop

Alexandra businessman Larry Fallon brokered the deal with Bishop Parkes after the initial actions of Bishop Parkes divided the community. The deal sees Kellock Lodged paying $3.5m dollars for 50 aged care bed licences with the building and land being transferred into a new entity to be formed locally in Alexandra.

100 Days to Victorian Election

Case for Retirement Village Reforms

Without A Feared Regulator

Tuesday, 14 August 2018

Financial Pain for Retirees from Retirement Villages

Why Big Investors Want Retirement Villages

Legislation Prohibits Residential Tenancy

Monday, 13 August 2018

Rent Assistance Absurdity

Sunday, 12 August 2018

Deferred Management Fee Business Model Broken

Friday, 10 August 2018

Legislators Fail Retirees

Thursday, 9 August 2018

Ombudsman For Retirement Villages?

Retirement Village Residents Decimated Financially

Wednesday, 8 August 2018

Retirement Industry Ombudsman Essential

RV Operator Charged For Abandoning Residents

Consumer Affairs Victoria reports -

"Consumer Affairs Victoria has commenced criminal proceedings against Stephen George Snowden, 51, of Ferntree Gully.

We allege that Mr Snowden operated the Berkeley Village retirement village in Patterson Lakes between July and September of 2017, when he was not permitted to do so.

We are seeking a financial penalty against Mr Snowden.

The matter will be heard at the Frankston Magistrates’ Court."

In a related story in the Sydney Morning Herald -

"Almost a year after state authorities urgently intervened in and then shut down Berkeley Living, where bedridden residents were left to fend for themselves in the wake of a staff walkout, Consumer Affairs Victoria has begun criminal proceedings against the man operating the retirement village.

Katherine Temple, a senior policy officer at Consumer Action Law Centre is quoted "the retirement housing industry wasn’t capable of self-regulation. Governments need to step in to ensure residents and their families are treated fairly.  Residents shouldn't have to spend the best years of their retirement fighting big business in court to get justice. We need an ombudsman to provide free, fair and independent dispute resolution."

Read the full story here -

Retirement Village Operator Charged

Tuesday, 7 August 2018

Retirement Industry Code of Conduct

Not Ownership Just Occupancy

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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