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Retirement Villages Act review

Retirement Villages Act 2016 and draft Retirement Villages Regulations 2017

The Retirement Villages Bill 2016 completed its passage through the Parliamentary process in November 2016, and is now the Retirement Villages Act 2016 (the Act 2016). This legislation is the result of over three years’ significant consultation, and successfully balances increased consumer protection with the interests of operators across the diversity of retirement village operations. The Act is available at www.legislation.sa.gov.au.

Key provisions in the Act 2016 include:

  • the introduction of a standard disclosure statement to improve transparency and clarity of residence contracts
  • the introduction of the mandatory repayment of an exit entitlement to a resident within 18 months of a resident vacating their residence or providing notice to vacate, if it is not relicensed prior to this time
  • an increase in transparency of village funds including breaking down management fees, providing details of expected consultation with residents regarding the village budget and requirements to meet with residents’ committees about finances.

Consultation on draft Retirement Villages Regulations 2017 

Consultation on the draft Retirement Villages Regulations 2017 has now closed. We thank everybody who provided feedback.

The draft Regulations, online survey and associated reference documents can be found at: www.yoursay.sa.gov.au/decisions/retirement-villages-act-review/outcome

Further information about the Retirement Villages Act 2016

A fact sheet has been developed which includes information about how the Retirement Villages Act 2016 affects prospective and current residents and those leaving a Retirement Village. It also includes when these changes will come into operation.

Contact

If you have any questions about the draft Regulationsor the Retirement Villages Act 2016 please contact the Office for the Ageing’s retirement villages unit on 8204 2420 or by email at retirementvillages@sa.gov.au

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