Carol Shepherd: Retirement Village Residents Council spokesperson on financial rights changes

The Government announced some changes to retirement villages today following thousands of submissions. 

The changes aim to support residents by giving the villages a specific timeframe of 12 months to repay residents after they vacate a unit. 

Until now there was no repayment deadline. 

Retirement Village Residents Council spokesperson Carol Shepherd told Heather du Plessis-Allan, "to be realistic and pragmatic we wanted some definition, some definite time frame about when we could get our money back, and 12 months seems to be a logical time frame."

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