A Few Major Things Went Wrong

ABC 7.30 program reports:- 

Read the full story here:- Retirement Village residents unhappy about complex contracts and fees

Retirement village residents unhappy about complex contracts and fees.

"The aged care royal commission has uncovered some shocking stories about the treatment of older Australians. But the housing that many older Australians depend on, retirement villages, falls outside its scope. About 200,000 Australians live in these villages and rely on the support they provide.

But some are paying dearly to do so, signing up to complex contracts and worrying that the money they are spending now may leave them unable to afford aged care when they need it.

When Les Scobie and his wife paid just over $200,000 for their retirement unit in the Victorian town of Wangaratta, they were hoping for a quiet life. They knew that if they decided to sell up and move on, the operators of the village would keep about a third of their money in exit fees.  "The part that we didn't understand when we came in, was how little protection there was for you if something went wrong," Mr Scobie said. "And unfortunately, at this village, a few major things went wrong."

The former bank manager discovered he and other residents had been wrongly charged a combined total of more than $300,000. So, on behalf of hundreds of residents at the village, Mr Scobie took on the local Anglican diocese, which ran the village at the time, and won back most of the money.

Mr Scobie said retirement village residents were often vulnerable, especially when their health deteriorated and they needed to leave the village and go into aged care. He said retirement village residents needed to make sure they were not taken advantage of. "The industry really needs to be tipped upside down," he said."

Read the full story here:- Retirement Village residents unhappy about complex contracts and fees