retvilldotnet

Tuesday, 9 October 2018

Loss of Capital Base in Retirement Villages

Interested in Retirement Village living.- This table indicates the direction of your capital base as opposed to staying in the family home. Future aged care cost? @adele_ferguson @abc730 @ACurrentAffair9 @theprojecttv @Matt_KeanMP @M_McCormackMP @acccgovau @Bowenchris #auspol pic.twitter.com/nLR2xtR0Ra
— Les Scobie (@retvilldotnet) October 8, 2018

State Government Flawed Retirement Village Legislation

State Governments through flawed 'ingoing amount' legislation build a dream of life in a #retirementvillage but far too often create a financial nightmare by making Grandma and Grandpa become corporate financiers. https://t.co/cf7hYwecE9 @Matt_KeanMP @MarleneKairouz @acccgovau pic.twitter.com/HHlgNYI2FX
— Les Scobie (@retvilldotnet) October 6, 2018

Sums Up Retirement Villages

Sums up #retirementvillage industry beautifully "Families need to be aware that what we are talking about here is the transfer of intergenerational wealth not to families, but into the pockets of large multinationals." Tom Gait President RVRA @GladysB @Luke_FoleyNSW #smh #nswpol pic.twitter.com/Rv66daD1sd
— Les Scobie (@retvilldotnet) October 5, 2018

Property Price Danger for Retirement Village Residents

DANGER - RETIREMENT VILLAGE RESIDENTS - Falling property prices create sting in the tail for #retirementvillage residents. Where contract of occupancy grants them access any capital gains, it also requires of them to make good any capital losses. @Matt_KeanMP @MarleneKairouz pic.twitter.com/C7x7Rhvhov
— Les Scobie (@retvilldotnet) October 5, 2018

Tuesday, 2 October 2018

Aged Care Royal Commission Must Examine Retirement Villages

The excessive negative capital impact on retirees paying for conditional occupancy in retirement villages means they subsequently require greater aged care funding from taxpayers. pic.twitter.com/8o6cLwObw2
— Les Scobie (@retvilldotnet) October 1, 2018

Monday, 1 October 2018

Chance For New Retirement Village Model

A new Retirement Village model? Well it should be! Victoria needs to change the Retirement Village laws so it can be. @LidiaThorpeMP @DanielAndrewsMP @MarleneKairouz @MatthewGuyMP @heidivic @FionaPattenMLC @JaclynSymes @timpallas @rwynnemp #vicpol #springst @Assemble_AUS https://t.co/oIGxre9UWu pic.twitter.com/BS3M7bYoNQ
— Les Scobie (@retvilldotnet) September 30, 2018

Only 54 Days to Victorian Election

54 days til Victorian retirement village residents express a view through the ballot box as to efforts or the lack of the @DanielAndrewsMP government in #retirementvillage reforms and an industry Ombudsman. @LidiaThorpeMP @MatthewGuyMP @heidivic @FionaPattenMLC #springst pic.twitter.com/vVHChgobds
— Les Scobie (@retvilldotnet) September 30, 2018

Retirement Villages Now Quasi Aged Care

With home care packages retirement villages now quasi aged care @KenWyattMP @GregHuntMP Financial impact on retirees in retirement villages means greater aged care funding from taxpayers. Aged Care Royal Commission must examine impact on budget. @CatherineKingMP @JulieCollinsMP pic.twitter.com/gMbW8qxUs0
— Les Scobie (@retvilldotnet) September 30, 2018

Legislators Need To Act

Legislators, would you tolerate this #retirementvillage scenario for your own mum & dad. Why do you let it happen to any mum and dad. @GladysB @Matt_KeanMP @Luke_FoleyNSW #NSWpol @DanielAndrewsMP @MarleneKairouz @heidivic #vicpol #springst pic.twitter.com/o9VAsDvOMo
— Les Scobie (@retvilldotnet) September 29, 2018

Build to Rent to Buy

Victorian law prevents this concept being a retirement village. Victorian retirees suffer excessive capital losses as a result of inaction of the @DanielAndrewsMP @MarleneKairouz government. @LidiaThorpeMP @timpallas @rwynnemp @MatthewGuyMP @heidivic @FionaPattenMLC #springst pic.twitter.com/rTX2W8IV7A
— Les Scobie (@retvilldotnet) September 29, 2018

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.