Retirement Commissioner: 'Systemic' issue in legislation

Author
Newstalk ZB,
Publish Date
Wed, 9 Jun 2021, 9:08AM
(Photo / File)
(Photo / File)

Retirement Commissioner: 'Systemic' issue in legislation

Author
Newstalk ZB,
Publish Date
Wed, 9 Jun 2021, 9:08AM

There are calls for an urgent review of retirement village legislation.

Retirement Commissioner Jane Wrightson has released a report recommending an in depth assessment of the sector's legal framework.

The report suggests the rules unfairly favour operators over customers, and finds flaws in the current complaints system. 

It takes into account more than three-thousand submissions, most of which are from retirement village residents.

Wrightson says it's more than just a few isolated incidents.

“It’s a systemic problem. The village sector comprises everything from very large companies, ranging to smaller non-profits.”

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