retvilldotnet: Jacinta Allan Govt Moves Against Retirees

Saturday, 11 January 2025

Jacinta Allan Govt Moves Against Retirees

The Victorian Jacinta Allan Labor Government is moving against Victorian retirees by mandating that retirement village residents will now have to wait 12 months to get their refundable money back on leaving the village.

How do they fund themselves over that period? An absolute con job by the industry.

The government seduced by the industry into believing that they do not have the money to repay the outgoing retiree. This money was paid to the village operator by the retiree before they could move into the village.

It shows a clear failure of the industry to manage cash flow, and a clear failure of the government to understand the principle of cash flow management.

retirees 12 months wait for refundable amount

No comments:

Post a Comment

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.