Monday, 23 December 2024

Devil in the Detail for RV Residents

Victorian retirement village operators are full of Christmas cheer after Santa (Labor) delivered the goods to them in the proposed Retirement Villages Act 2024 version. The devil is in the detail for residents.

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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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