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."

LISTEN ABOVE

The Government announced some changes to retirement villages today following thousands of submissions.&nbsp;
The changes aim to support residents by giving the villages a specific timeframe of 12 months to repay residents after they vacate a unit.&nbsp;
Until now there was no repayment deadline.&nbsp;
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."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

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

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ad3952a8-542f-4107-ae5f-b3a9003e71cd/transcript

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