Freedom and Fairness in Retirement Villages: An Analysis of the Regulatory Framework

39 Pages Posted: 8 Sep 2019

See all articles by Julia Marshall-Mead

Julia Marshall-Mead

Victoria University of Wellington, Faculty of Law, Student/Alumni

Date Written: September 6, 2019

Abstract

New Zealand’s ageing population has contributed to the rapid expansion of the retirement village sector and will continue to do so in coming decades. It is therefore essential that the regulatory framework governing retirement villages be fit for purpose and that it meet its policy objective of protecting retirement village residents’ rights and interests. The regulatory framework has not been subjected to a comprehensive review since the enactment of the Retirement Villages Act 2003. This paper analyses the degree to which the regulatory framework has achieved its aims. It draws on data from interviews with residents and management from retirement villages to identify ways in which the regulatory framework could be altered to better balance the rights of residents and operators. It proposes amendments to the framework to ensure that residents thoroughly understand their contracts with retirement village operators, and to provide for fairer provisions around the financial terms the contracts may contain. It also recommends the establishment of an independent advisory facility to support residents and intending residents both prior to and after their entry into villages.

Keywords: Retirement Villages Act, regulation, elder law

JEL Classification: K00

Suggested Citation

Marshall-Mead, Julia, Freedom and Fairness in Retirement Villages: An Analysis of the Regulatory Framework (September 6, 2019). Victoria University of Wellington Legal Research Paper . Available at SSRN: https://ssrn.com/abstract=3449051 or http://dx.doi.org/10.2139/ssrn.3449051

Julia Marshall-Mead (Contact Author)

Victoria University of Wellington, Faculty of Law, Student/Alumni ( email )

PO Box 600
Wellington, Victoria 6140
New Zealand

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