In 2023 the Ministry, working in partnership with the retirement sector, will begin a review of the Retirement Villages Act. This review will be part of the Ministry’s wider housing work programme and our commitment to creating thriving communities where everyone has a place to call home.
We are working towards the release of a discussion document in September 2023.
The Retirement Villages Act 2003 (the Act) sets out obligations for retirement village operators and the rights of residents and anyone considering moving into a retirement village. The Act has two main purposes
The Act also sets out further specific purposes such as promoting understanding of the financial and occupancy interests of residents and intending residents, providing a regulatory and monitoring regime and a way to introduce rules and procedures that give effect to this regime.
Oversight of the conditions in which operators enter the sector and run retirement villages is also included. The Act also gives powers and duties to the Registrar of Retirement Villages and the Retirement Commissioner.
It’s almost been 20 years since the Act and related regulations and codes were introduced and these have not been reviewed since. The review aims to address issues and strike a balance between the rights and responsibilities of residents and operators of retirement villages.
At a high level, the review is set to consider whether the current Act and all its parts remain fit for purpose to ensure:
The review will also consider specific aspects related to the main phases of retirement village experience, such as moving in, living in and moving and on, and some wider issues.
