Minister for Ageing Jennifer Rankine today released the discussion papers outlining a review of the Retirement Villages Regulations 2006.

The review will focus on ensuring the Regulations reflect the need for transparency and accountability in the industry to ensure older South Australians are protected.

“It is important that people who are considering retirement villages as part of their accommodations options as they get older feel confident in the standards of the industry,” she said.

“The Retirement Villages Act regulates the rights of residents of a retirement village, and the Regulations determine what information must be included in or supplied prior to signing a contract. The Regulations cover many matters of detail which are integral to the operation of the Act.

“This review will allow members of the public, advocacy groups and people in the industry to have their say about what they think should be included or strengthened in the Regulations.

“While the majority of the 500 plus retirement villages in South Australia receive few complaints, it is important that any potential problems are addressed.

”The discussion papers have been developed in consultation with advocacy and industry groups. They have identified some areas of concern including: what happens when a property is vacated, management practices, clarity and transparency of accounting practices and auditing standards.

“While most retirement villages offer a positive lifestyle choice for their residents, regulations need to be in place to ensure the rights of everyone living in a retirement village are protected,” Ms Rankine said.

“Residents need to be confident they will get the information they need to make an informed decision about their accommodation before they move in.

“The review of the Regulations will strengthen the rights of people who are considering or are already living in a retirement village, as well as those leaving retirement villages and should give them greater peace of mind.”

Copies of the discussion papers are available from Disability, Ageing and Carers and anyone wanting to make a submission is asked to do so in writing before Friday 26th August 2011. Submissions can be emailed to OFTARetirementVillages@dfc.sa.gov.au or sent to Retirement Villages Unit, Disability Ageing and Carers, PO Box 70, Rundle Mall, Adelaide SA 5001.

For more information regarding submissions please call 08 8207 0354.