retvilldotnet: Utopia now lost for Retirement Villages

Wednesday, 1 January 2025

Utopia now lost for Retirement Villages

Moneywise reports - 'Retirement villages were supposed to be ‘utopia’ for senior Australians — instead, residents received life in financial prison and ‘corporatised elder abuse’.

Click here for the full article - Retirement Villages were supposed to be Utopia

'Retirement villages were supposed to be ‘utopia’ for senior Australians — instead, residents received life in financial prison and ‘corporatised elder abuse’ reports https://t.co/RswOFxurOa - @daviddavismlc @BevMcArthurMP @melinabathmp @WendyLovellmp #springst @NStaikos
— Les Scobie (@retvilldotnet) December 31, 2024

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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.