Consultation on retirement village issues |
The Queensland Government is seeking feedback from all sectors of the community, especially from current and prospective retirement village residents, and retirement village operators on whether enhancements are required to the Retirement Villages Act 1999, in particular options to address the situation when a retirement village closes or is seeking to close.
As at 30 June 2011, there were 311 retirement village schemes registered in Queensland. Closure of villages is rare, both in Queensland and Australia-wide at present. However the impact can be significant on residents, operators and the community. The Productivity Commission report, Caring for Older Australians, noted Retirement Village Association statistics show the retirement living sector has more than doubled its market penetration in the last decade to 5.3 per cent of those people aged over 65 and due to our ageing population, this number is expected to increase to 7.5 - 8 per cent by 2025.
A discussion paper, Queensland Retirement Villages, has been prepared which examines a number of issues in relation to retirement village closures, compensation and exit fees and provides scope for feedback on any issue you may consider is relevant to retirement villages.
The Government has highlighted some areas for examination:
- the process required to bring about the closure of a retirement village to ensure fairness to both residents and operators;
- time frames involved in closing a village;
- financial considerations; and
- the quality of information provided to prospective residents detailing their rights and obligations in the event of a village closure.
Consultation on the discussion paper officially opened on 24 August 2011. Grey boxes containing questions for discussion appear after each issue and are designed to help you respond to the different issues raised and guide your feedback.
Submissions closed on 9 October 2011.
Last reviewed 11/10/2011 |
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