Year ahead in retirement living

The year ahead is already shaping up to be eventful with many states undertaking retirement specific legislative reviews, vaccinations expected to be rolled out, a Western Australian state election, recommendations to be handed down, the Royal Commission into Aged Care Quality and Safety to deliver its findings and so much more. 

That being said, it certainly will not be 2020, and it is in this spirit that the Retirement Living Council is looking forward to the opportunities that the year ahead is presenting. There is plenty to be done, and one key highlight that is already identifiable for 2021 is the return to more face-to-face events. 

Isolation seemed to permeate throughout much of 2020, and the gradual return to normalcy in 2021 is something that we can all look forward to. 

In regard to the various legislative and state reviews and recommendations:

South Australia will commence a review of their Retirement Villages Act 2016 soon, having recently handed down a discussion paper. This review will examine the impacts of the 18-month mandatory exit entitlement policy within this review. The Department will be commissioning a consultant to assist with the review of the Act. 

The Victorian Retirement Villages Act 1986 is currently under review to determine its effectiveness in providing consumer protection will allowing growth and innovation in the sector. After stakeholder meetings an options paper outlining potential reforms will be released for consultation in the near future. This review will examine the issues of exit entitlements. This review and consultation is being done internally by officers in the Department of Justice and Community Safety. 

After the Queensland Government in 2020 commenced a legislative review into their mandatory 18-month exit entitlement policy, the Property Council of Australia was given the opportunity to give comment in form of a submission to the independent review panel that was established by government. The final report from the independent review panel was due to the Minister at the end of 2020, and industry is yet to see the recommendations in this report. It is hoped that the recommendations and any decisions made by the Minister will be delivered in early 2021.