CHOICE asks “Could the retirement-village sector finally be coming around to giving residents a fair deal”?

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In a major 3,900 word article posted on the consumer advice portal CHOICE, staff writer and ex-ASIC and NSW Consumer Affairs Commission Member Andy Kollmorgan (pictured), reviews the six-month buyback regulations being discussed in New South Wales.

He summarises his article this way:

On this page:

CHOICE is a respected and significant advice channel for consumers. This report is largely negative on the sector from a financial point of view. That said, the most balanced comment was made by Jim Gibbons, President of the NSW Resident Association:

“It’s not a sensible investment,” Gibbons says. “We all agree with that. You’re paying for a lifestyle. I’m probably going to die before my wife does, and I want her in a good place with good facilities. For me it’s a rational decision. I walked into this with eyes wide open.” 

You can read the full article HERE.