The silver tsunami and what it means for retirement living

As a growing cohort of ‘forever young’ baby boomers rethink their retirement living options, serviced apartments may hold the key to independent living for longer.

According to the 2015 Intergenerational Report, Australians will continue to live longer than most people in most developed countries around the world. By 2055, life expectancy at birth is projected to be 95.1 years for men and 96.6 years for women.

While the Australian Government rolls out aged care reforms in preparation for the silver tsunami, retirement living operators around the country are focused on providing a range of choices, including a growing number of serviced apartments.

“The traditional view of aged care is associated with residential aged care, but most people want to stay independent and remain in their home and connected to family and the community for as long as possible,” says Suzanne Petterson (pictured), one of the speakers headlining the Retirement Living Summit in November.

“Aged care reforms are moving the industry towards consumer-directed care, which means people will have greater choice and flexibility when it comes to home-based care and support.”

Petterson, who owns private home care provider Luxe Care and advisory service, Your Care Options, is a fan of the serviced apartment model.

“A well-designed serviced apartment with central care delivery not only removes a lot of the maintenance hassles that worry people as they get older. It can also help people maintain their privacy and independence for longer.”

A registered nurse, Petterson has worked in acute hospital settings as a chief executive officer and director of nursing, before spending eight years in the residential aged care sector. She now works in the community, using her expertise to lead an aged care advisory service with a private home care arm.

She says many older people are looking for a “discreet” care service, and this is something that is often well suited to the serviced apartment model.

“I’m dealing with older people in their own houses, and often come across situations where I suggest consideration of a serviced apartment – and I’m finding a lot more people are open to the idea of moving into an apartment building than they were a few years ago.

“Once you can get people thinking about an apartment, the rest of it is easy as so many services are within reach, and they can access additional care and support as needed.”

With 65 retirement villages around the country, Stockland offers a range of housing choices including independent living homes and more than 600 serviced apartments.

Stockland’s general manager of its Retirement Living business, Anna Learmonth, says serviced apartments can be an intermediate style of accommodation that sits between independent retirement living and aged care.

“Serviced apartments are designed for those who still want to enjoy the benefits of living independently in a community while having help close at hand,” Learmonth says.

“Serviced apartment living is all about having an extra helping hand on call, someone to assist with the cooking cleaning and laundry, while affording the residents the freedom and autonomy to maintain their independence,” she explains.

Stockland serviced apartments are located within or next to the community centre, and residents get access to medical consulting rooms for visiting health professionals, a prescription pick-up and delivery service and a 24-hour emergency call system.

Learmonth, who will be participating in a panel session during the Summit, says residents choose to move into a retirement village for a host of reasons, but she says “peace of mind” is an integral part of the decision-making process.

“It’s about making it as simple as possible, providing our residents with a continuum of care options from the outset, or as individual care needs increase over time.

“Serviced apartments really do offer the best of both worlds; independent living with the security and comfort of a helping hand when it’s needed,” Learmonth concludes.

Suzanne Petterson and Anna Learmonth join a stellar line-up of speakers at the National Retirement Living Summit from 28-29 November in Melbourne. Book your ticket today.