Monday, 29 October 2018

Vic Labor Refuses Retirement Living Ombudsman

NSW Labor Says Yes To Retirement Living Ombudsman

Retirement Villages Under State Laws.

Andrews Government Says No Retirement Living Ombudsman

Friday, 26 October 2018

Deferred Management Fee Should Be Restricted

NO to a Retirement Village

Why we decided NOT to move into a retirement village.

In an article at retiree Dorothy Webster has dipped her toes into retirement village living. Here she explains why you must do the maths before signing the dotted line.

After spending a working life paying off your mortgage and/or accumulating savings, there comes a time when you wonder how you are going to live in old age without parting with your hard-earned capital? I have been investigating the choices for retirement.

There is the lifestyle choice of going to live in a retirement village but the terms can vary considerably. Some places I researched are a bit kinder, you purchase the property and when it is sold you get the capital gain less a commission for selling it. Both of these options have a weekly fee for the use of services such as swimming pool, club house, workshop etc.

The villages in Australia have a variety of terms so it pays to read the small print. They also have contracts that require exit fees when you leave. They all expect you to leave the property in excellent condition so a coat of paint and either a commercial carpet clean or replacement is also at your cost.

However, if you go into a village as husband and wife and one of you becomes ill and needs to be moved into the care facility the costs will increase substantially. You will still have to pay the weekly fee for your property and use of their facilities plus you could have to find approximately $1000 a week for care of your spouse. When they are getting the capital gain as well you could soon see your life savings disappearing fast.

If you are thinking about moving to a village I would advise you to make a list of advantages and disadvantages and check out their contracts and do the sums. After all it took most of your lifetime to earn it so do not be easily parted with your home or savings.

The full article can be read here -

Wednesday, 24 October 2018

Aged Care RC Need to Examine Retirement Villages

Evidence Shows Clear Need For Retirement Ombudsman

Vic Retirees Seek Support For Ombudsman

No Room for Retirement Living Ombudsman

Excessive Capital Loss Suffered By Retirees

Deferred Management Fee Harms Retirees

Retirement Village Residents hurt by Falling Property Prices

Victorians to Decide

Victorian Retirees Demand Ombudsman

Loss of Intergenerational Wealth

Wednesday, 17 October 2018

Loss of Intergenerational Wealth through Retirement Villages

Andrews Government Makes Political Mistake

Retirement Village Operators Hide Behind Flawed Legislation

Victoria Needs Retirement Village Ombudsman

Aged Care Royal Commission Excludes Retirement Villages

Demand Staffing Ratios For Aged Care

Retirement Villages Left Out Of Aged Care Royal Commission

Retirement Villages Becoming Low Level Aged Care

Thursday, 11 October 2018

Retirees Want Retirement Living Ombudsman

Tuesday, 9 October 2018

Loss of Capital Base in Retirement Villages

State Government Flawed Retirement Village Legislation

Sums Up Retirement Villages

Property Price Danger for Retirement Village Residents

Tuesday, 2 October 2018

Aged Care Royal Commission Must Examine Retirement Villages

Monday, 1 October 2018

Chance For New Retirement Village Model

Only 54 Days to Victorian Election

Retirement Villages Now Quasi Aged Care

Legislators Need To Act

Build to Rent to Buy

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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