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RETIREMENT

The Retirement Industry - Reform, Innovation And Opportunity Ahead

The Retirement Industry - Reform, Innovation And Opportunity Ahead

The retirement industry has had its fair share of controversy and bad publicity in recent times, leading to the reform efforts currently being undertaken by the NSW government and most recently leading to the release of the Greiner Report.

While the Report focuses its recommendations on the retirement village sector specifically the broader health and aged care industry is also undergoing a transformation on the back of technology and increased competition.

What does the Report recommend, how will the retirement industry respond and what will it mean for service providers and residents alike?

New South Wales Government Commissions Inquiry Into Retirement Villages Industry

New South Wales Government Commissions Inquiry Into Retirement Villages Industry

The New South Wales Government has commissioned Kathryn Greiner AO to lead an inquiry into the retirement village sector.  The focus of the inquiry includes whether operators are acting honestly, fairly and in accordance with their regulatory obligations.

Queensland Government Proposes Big Changes to the Retirement Villages Act (QLD)

Queensland Government Proposes Big Changes to the Retirement Villages Act (QLD)

The Queensland Government has introduced a Bill which proposes significant amendments to the Retirement Villages Act 1999 (Qld).  If enacted, these changes will require many operators to update their risk management policies, contracts and prescribed forms.

Navigating The Sales Process – Lessons From Estate Of Madeline Cozma v Milstern Retirement Living Pty Ltd t/as Golden Lifestyles [2016] NSWCATCD 56

Navigating The Sales Process – Lessons From Estate Of Madeline Cozma v Milstern Retirement Living Pty Ltd t/as Golden Lifestyles [2016] NSWCATCD 56

Disputes between operators and former occupants  can arise during the sale of an interest in a retirement village premises, especially when that sale period is prolonged.   This case explains certain rights and responsibilities that arise during that sale process, and provides a reminder that the NSW Civil & Administrative Tribunal can waive or reduce departure fees payable to an operator if it considers the operator has caused or contributed to a delay in entering into a new village contract with an incoming resident.

Financial Management Obligations Of Retirement Village Operators (NSW)

Financial Management Obligations Of Retirement Village Operators (NSW)

Insights As To The Financial Management Obligations Of Retirement Village Operators (NSW)

The NSW Civil & Administrative Tribunal Appeal Panel has provided useful guidance in relation to several financial management issues in Sakkara Investment Holdings Pty Ltd atf Sakkara Landings Trust v The Residents Committee of The Landings Retirement Village [2016] NSWCATAP 52