Retirement living round up

A number of updates are available on a shortened Retirement Villages reform journey, the annual PwC Retirement Census and a Retirement Living Market update hosted by the Retirement Living Council.

Retirement Villages reforms

Following strong advocacy from Property Council WA, Consumer Protection has advised it will partially reset its approach to the ongoing retirement living reforms process in WA. Emerging from advice at the State Recovery Advisory Group, Consumer Protection has convened an industry group including village operators, industry group representatives, residents and regulators to bring forward reforms on changes to memorials and buybacks. The streamlined process is aimed at quelling uncertainty and delayed investment in the sector brought about by the current reform process.

The industry group will meet several times starting in August to ensure legislative changes on the major issues facing retirement villages are dealt with more quickly. A final, capture-all Consultation Regulatory Impact Statement (CRIS) paper will be released at the end of the process to discuss all remaining issues, as well as giving consideration to proposals canvassed by the first three CRIS papers.

PwC Retirement Census

The annual Retirement Census run by PwC opened today. Operators have received information from the Retirement Living Council on how they can participate. Participating villages receive a free copy of the census report, which helps them understand their market position and provides valuable information that drives our advocacy agenda with governments.

To find out more, visit the website here or email National Policy Manager Leida Pirts.

Retirement Living Council forum

Retirement Living Council members have been invited to attend a one-hour virtual Retirement Living Market Update next Tuesday 28 July at 12pm Perth time.

Panellists confirmed for the session include:

Tony Massaro, Partner – PwC

Felicity Emmett, Senior Economist – ANZ Research

Leida Pirts, National Policy Manager for Retirement Living – Retirement Living Council.

The session will recap the results from the 2019 PwC Retirement Census and the recently released ANZ/Property Council Sentiment survey to see what’s instore for the Retirement Living sector with an opportunity to discuss other industry issues and ask questions of panellists after their presentations.

Registration is available here.