Retirees don't deserve the financial disaster that comes from downsizing from the family home into a retirement village. @SffpVictoria @ademsomyurek @_davidlimbrick @georgievpurcell @rachelpaynemp @dettershankMP @BradBattinMP @DavidDavisMLC @NStaikos #springst @AivGoesGreen pic.twitter.com/zSxfvEk82u
— Les Scobie (@retvilldotnet) February 4, 2025
Thursday, 6 February 2025
Transfer of Intergenerational Wealth
Capital Wealth Lost
Retirement village analysis shows the dominant financial model for retirement villages the loan lease model is causing a demonstrative transfer of capital from residents and their families to operator corporations. https://t.co/4zW6TvuCXF @MichaelWestBiz @consumervic #springst
— Les Scobie (@retvilldotnet) February 3, 2025
Vic Labor Tramples Retirment Village Residents
@VictorianLabor has trampled some 36,000 retirees in retirement villages by making them wait 12 months to get their money back on leaving a village. Insulting them by saying probate takes longer than six months. @NStaikos @JaclynSymes @TimMcCurdyMP @consumervic @abc730 #SpringSt pic.twitter.com/GtDQ1xOOPF
— Les Scobie (@retvilldotnet) February 2, 2025
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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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