Jane Wrightson: Retirement Commissioner on the reforms to the Retirement Villages Act 2003
Description
The Retirement Commissioner's unfazed at the prospect of a potential retirement village price rise.
The Government's announced changes to the Retirement Villages Act 2003, aiming to ease the experience of elderly people and their families.
Changes include ensuring money is paid back within a year after a resident leaves.
Commissioner Jane Wrightson told Mike Hosking it’s been a five-year process with painstaking consultation and assessment, and the Government has done a very careful balancing act, going straight through the middle of most of the disputes.
She says that both parties, the operators and the residents, are pleased about some things and not so pleased about others, which suggests the changes are mostly right.
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