26 September 2023

Opinions invited on age village exit costs

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The Department of Communities, Housing and the Digital Economy has made a call for feedback on the recommendations of an independent report into timeframes for exit payments in Queensland retirement villages, as well as the Government’s response.

Minister for Communities and Housing, Leeanne Enoch said retirement village residents, operators and stakeholders should have their say in order to help shape the implementation of the recommendations.

“It is important to get this right, so we are seeking feedback from those who are engaged with retirement villages in any way, about the benefits, costs and implementation challenges of the recommendations,” Ms Enoch said.

She said an independent review was required to begin two years after changes to the Retirement Villages Act 1999 came into force.

The review would determine the impact of the changes on residents, former residents, families of residents, and operators.

“In 2017, we amended the Act to provide greater security and confidence to retirement village residents in Queensland,” Ms Enoch said.

“These amendments include a requirement for retirement village operators to pay exit entitlements within 18 months of a resident’s departure, unless doing so would cause the operator undue hardship.”

She said these were important amendments, designed to help former residents who desperately needed to secure their exit payments so they could provide for their continuing accommodation and care as they aged.

Ms Enoch said the review had been completed by an independent panel which found exit entitlements and buyback requirements were generally operating well.

The report includes four recommendations about the continuing operation of exit entitlements and buybacks, as well as three recommendations outside the scope of the panel’s terms of reference.

The Minister said consultation would open soon, with six weeks to provide feedback.

Information relating to the final report and for advice on how to provide feedback can be accessed at this PS News link.

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