Reforms key focus at WA Retirement Living Outlook Forum

Important announcements about the second wave of reforms to WA’s retirement village laws were provided at the Property Council’s Retirement Living Forum in Perth last week.

Penny Lipscombe, Director of Legislation and Policy from the Department of Mines, Industry Regulation and Safety – Consumer Protection Division said an industry discussion paper will be released in July 2018.

Some of the issues to be included in the paper are better concept of the whole product in the Retirement Living legislation, including amenities and services, modification to the Deferred Management Fee (DMF) model and amendments to key Retirement Village Act provisions with emphasis on redevelopments and capital works. Ms Lipscombe also proposed various other changes to legislation that would ensure the system is as contemporary, efficient and effective as possible.

The WA Retirement Living Committee will commence discussions to prepare for the release of the paper in July.