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Outcome of consultation and recommendations
Between 2012 and 2016 significant changes were made to retirement villages’ legislation in Western Australia (WA) following the Statutory Review of Retirement Villages Legislation Final Report, November 2010 (Final Report) (stage one reforms). Many of these changes were focused on providing the consumer with more information when deciding whether to enter into a retirement village agreement, as well as making changes to residence contracts and budget and financial reporting requirements. The further reform process was required to implement the balance of the reforms of the Final Report and also to address issues that had arisen since stage one (stage two reforms).
The stage two reform process commenced in August 2019 with the release of the first consultation paper (CRIS 1), focused on improving consumers’ understanding of the retirement village product and its price. CRIS 2 was released in December 2019 and focused on operator obligations such as payment of exit entitlements, capital works funding, refurbishment and rules of conduct. CRIS 3 was released in March 2020 and focused on clarifying when the Retirement Villages Act 1992 (WA) (RV Act) applies. CRIS 4 was released in June 2021 and focused on managing significant changes to a retirement village.
Feedback has also been obtained in other ways, including surveys, discussions and roundtable meetings with peak bodies in the sector, engagement with other government agencies, and interested organisations.
In 2021, Consumer Protection engaged the Western Australian Treasury Corporation to assess the financial impact of proposals in CRIS 2 to introduce a time limit for exit entitlement payments on the retirement village industry. The conclusions from this assessment have informed final recommendations on this issue.
The Western Australian Treasury Corporation (WATC) report assesses the financial impact of proposed time limits for payment of exit entitlements to former retirement village residents. The WATC report includes results from an industry survey.
The Decision Regulatory Impact Statement (DRIS) recommends amendments to the RV Act based on the CRIS proposals and feedback to the consultation. The DRIS addresses five overarching categories for reform:
The DRIS has been published in two versions:
A bill containing the proposed amendments to the RV Act will be prepared for introduction into Parliament. Further targeted consultation will occur during this process.
Bulletins are sent out to keep stakeholders informed on updates or changes. To be added to our list you can:
Enquiries can be made by calling Consumer Protection Contact Centre on 1300 304 054 or by email.