For older South Australians, choosing to live in a retirement village should offer certainty and peace of mind.
That’s why I am proud the State Labor Government has just delivered new laws to protect
residents of retirement villages, through the Retirement Villages Act 2016.
Labor’s new laws will:
- ensure there is more transparency in contracts
- introduce penalties for operators that exploit residents and
- implement an 18 month payback guarantee that ensures residents who leave a village are paid out for their unit within 18 months, regardless of when it is relicensed.
This will mean residents (or their estates) have better access to their entitlements when
they need them.
Labor understands the importance of protecting the rights of older South Australians and
our new laws build on other measures we’ve introduced to protect retirement village
residents. This includes the introduction of Better Practice Guidelines for operators and the
establishment of an advocacy services for retirement village residents.