Retirement village residents across NSW will save thousands of dollars and be able to transition into aged care more easily under new laws that will require villages to pay exit entitlements and stop charging fees sooner.
Minister for Better Regulation Matt Kean said the policy will build on the strong outcomes the NSW Liberals & Nationals Government has already achieved for retirees - and give them a stronger, better future.
Retirement village residents and their families will be better protected under new legislation that has passed Parliament.
Minister for Better Regulation Matt Kean said the NSW Coalition implemented a number of reforms recommended by Kathryn Greiner AO, following her independent inquiry into the retirement village sector last year.
“For too long, retirees and their families have been taken advantage of by some in the industry and frankly, I’m sick of it,” Mr Kean said.
Retirement village residents will be better protected and have greater transparency when considering potential contracts after NSW Fair Trading launched a new online calculator.
Minister for Better Regulation Matt Kean said the online resource would empower residents by giving them a better understanding of the estimated costs of living in a retirement village.
“It can be overwhelming to assess retirement village costs due to a wide range of fees and charges that are often incurred at different times,” he said.
PEOPLE living in retirement villages in The Hills will benefit from law changes that will protect them from falling victim of dodgy service.
The changes by the state government will create greater transparency in relation to fees and charges, introducing an online calculator to help people estimate costs of living in a retirement home, and NSW Fair Trading will conduct a blitz to monitor retirement village operators.
Hornsby MP and Better Regulation Minister Matt Kean said the changes will make retirement more enjoyable.
Minister for Innovation and Better Regulation Matt Kean MP has announced a new package of reforms to give the power back to retirement village residents.
The plan will put consumers first by making contracts more transparent, giving residents the tools to compare costs, and cracking down on providers through a compliance blitz.
Minister for Innovation and Better Regulation announced a crack down on retirement village operators to ensure residents are protected from potentially dodgy practices.
Unscrupulous retirement village operators in NSW will be targeted under a suite of reforms, "cracking down" on the industry recently linked to allegations of unfair practices.
Minister for Better Regulation Matt Kean will announce the package on Sunday, highlighting a four-point plan designed to protect retirement village residents from potentially dodgy practices.
"This plan will put consumers first by making contracts more transparent, giving residents the tools to compare costs, and cracking down on providers through a compliance blitz," he said.
After being elected as Member for Hornsby in March 2011, I have embarked on many initiatives that the community and I see as pivotal issues for Hornsby. I see and understand the needs of the community and am proud to play my part.
