retirement.org.nz

The Act came fully into force on 1 May 2007. It covers the period before an intending resident enters a retirement village, during their occupation, and after they leave. All retirement villages must have registered with the Registrar of Retirement Villages by 1 November 2007. They must also appoint a statutory supervisor.

The Act requires operators to disclose certain key information to each intending resident and for them to get advice from an independent lawyer before they sign an occupation right agreement. It provides protection for residents, including a statutory supervisor for each village, a facility for handling complaints and a dispute resolution procedure, a Code of Residents' Rights and a Code of Practice.

For specific information, consult the Act, regulations and Code of Practice 2008. For specific legal advice, contact a lawyer. The Act requires intending residents to take independent legal advice before entering a retirement village.

You can print a copy of the guide or order printed copies (provided free of charge) by:

• emailling office@cflri.org.nz
• calling 04-499 7396
• writing to Retirement Villages, Commission for Financial Literacy and Retirement Income, PO Box 12-148, Wellington, 6144.

   

Attachment
Guide to RV Act May 2007