Are you living in a retirement village? Work out where you stand by requesting a check-up meeting

A contract check-up meeting will help you work out where you stand with aged care changes.

Did you know that you have the right to a written summary of the status of your village contract once a year, whether there is a meeting or not?

New retirement village laws starting in 2021 allow for an annual retirement village contract “check-up,” which helps residents better understand their future options so they can make better plans.

Your village operator must provide reasonable estimates or face significant penalties.

As part of the changes, the operator must provide reasonable estimates. The information they must provide is in a set format, making it easier for you to understand what to expect when leaving the village.

You are not alone: family, friends or advisors may attend with or for you.

You do not have to do this alone. If you want, you can nominate a friend or family member to go on your behalf. We can also attend the meeting on your behalf to learn what may lay ahead should you need to leave the village. If you’d like us to attend, contact us to arrange a time.

Your operator must provide a written summary of all costs if the resident were to leave the village.

With a clear format on what information to provide, you will have a clear statement outlining your options once the meeting is finished. These guidelines for what must be provided by the operator are set by Fair Trading NSW.

This is your chance to reset your expectations of what happens next.

You may have been in the village for a few years now, things may have changed for you, and things are changing in how people pay for care. These meeting make sense to keep up with those changes.

How it works is simple.

A resident is expected to request a meeting in writing (by email or letter), and the operator must hold a meeting with the resident. The resident may request the information once a year.

What to do with the information.

Knowing what is expected to happen when you leave a retirement village is important for aged care considerations, moves between villages and expectations for your estate.

Having the information on hand means you are better prepared to make good decisions.

We can help.

Need help? We can request the information on your behalf and help you plan for the next steps.