Review recommends changes to retirement village legislation

A review of legislation that sets out the rights and responsibilities of retirement village residents and operators has recommended several improvements.

The Retirement Villages Act 2012 was introduced three years ago to strengthen consumer protections for the retirement village industry. There are more than 30 retirement villages operating in the ACT.

Minister for justice and community affairs, Shane Rattenbury, said the review found the legislation "generally working well". But he said there were a few amendments that "would enhance business operations, help with internal disputes and benefit both residents and operators".

The proposed amendments include a new internal dispute resolution process for residents and operators, a simpler and more consultative budget approval process with greater resident input and more binding deposit arrangements for entry into retirement villages to reduce financial loss for operators.

"We had an incredible response to the review from the Canberra community," Mr Rattenbury said. "I believe we've put together a balanced set of recommendations, which will help the Act continue to meet the needs of residents, their families and village operators."

 

Read more at http://www.canberratimes.com.au/act-news/review-recommends-changes-to-retirement-village-legislation-20160503-gokzyh.html

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