Government Advances Key Areas of Retirement Villages Act Review

Mr Potaka expects to receive further advice next year, with a legislative amendment likely to be introduced in the next Parliamentary term.

The coalition Government is moving forward with its review of the Retirement Villages Act 2003, focusing on areas deemed most critical based on public feedback, Associate Minister of Housing Tama Potaka and Seniors Minister Casey Costello announced today.

Minister Potaka noted that after receiving over 11,000 public submissions in 2023, several areas of high agreement emerged. Key areas include aligning the Act with sector best practices, improving transparency through a plain-language version of the Code of Practice, and enhancing resident protections—for instance, restricting operators from passing on insurance excesses when residents are not at fault.

The review will prioritize the following areas:

Maintenance and repairs of operator-owned chattels and fixtures.Complaints and dispute management.Incentivizing or requiring earlier capital repayments when residents move out of villages.

The objectives remain to ensure adequate consumer protection, balance operator and resident rights, and maintain the sector's viability.

Mr Potaka expects to receive further advice next year, with a legislative amendment likely to be introduced in the next Parliamentary term.

Minister Costello highlighted the importance of retirement villages in providing housing options for New Zealand’s ageing population, especially as the number of retirees in these villages is projected to double by 2048.