RLC slams Asset Management Plans ahead of 2023 NSW election

The Retirement Living Council has labelled NSW’s Asset Management Plans (AMPs) the “biggest adverse impact” on the sector this year.

AMPs, which operators have called “laborious and unrealistic”, were criticised at the NSW Retirement Living Forum’s Regulation and Policy panel this month.

RLC Executive Director Daniel Gannon (pictured) says that while the NSW Government likely thought AMPs were a good idea, in practice they have added an extra burden in cost and red tape for operators.

“Over 80% of attendees at this year’s NSW Retirement Living Forum said the policy outcome does not meet the Government policy’s intent,” he told The Weekly SOURCE.

“There is a demonstrable need for government intervention and amendment to remove this massive compliance burden for both operators and residents.”

Daniel has signalled the RLC may lobby the NSW Government on AMPs ahead of the state election in March next year, pointing to how the official guidelines for operators stretch to a 26-page document.

“The retirement living industry is mobilising ahead of next year’s election. Cutting the unnecessary red tape that simply adds cost to business, then customers, is a key priority,” he said.

The Government earlier this year was forced to push back the deadline for AMPs, given the confusion and difficulty operators were experiencing in preparing them.