SA, the home of Retirement Living Council Executive Director Daniel Gannon, seems the hotbed for new laws against retirement village operators.
Only days after SA Federal MP Rebekha Sharkie put a motion to the Australian Government calling for the retirement sector to operate under national regulations, the SA Government’s Health Minister Chris Picton has promised changing the state’s Retirement Village Act 2016 through the Retirement Villages (Miscellaneous) Amendment Bill 2023.
Consultation opened on 31 March and is open to 19 May.
Proposed changes include improving contract transparency with information on all fees and charges made available to prospective residents, including remarketing fees and charges and how exit fees are calculated.
A review of the Act was undertaken in 2021, with the Government stating it had received 200 submissions by residents, operators, peak bodies and other interested parties. Independent reviewers found that while many parts of the Act were operating as intended, there was still “room for improvement” and 60 recommendations were made.
The amendments to the Act are aimed at increasing consumer protections; strengthening standards applying to retirement village operators and village staff, and strengthening the powers and functions of the Registrar.
The Review’s recommendations also considered the potential growth of the retirement village sector, the challenges of an ageing population putting increased demand on the sector and the wide variety of operators in the retirement villages space.
“Reforms need to be done in a balanced way to ensure the sustainability of the sector and that people are not taken advantage of,” the Minister said.
“These proposed reforms will put consumer protection at the forefront and also minimise any unnecessary impacts on retirement village operators.”
Daniel Gannon said contract transparency was vital and underpinned reform work that the Council was undertaking with Governments.