Second Retirement Village Calculator

The Sydney Morning Herald reports -

Estimated cost calculator introduced amid crackdown on retirement village sector.

"Prospective residents of retirement villages will be able to calculate the estimated costs of moving into a village before signing a contract, with the launch of a new online calculator by NSW Fair Trading on Tuesday.

Take this link to the online calculator - NSW Fair Trading Retirement Village Calculator

Minister for Better Regulation Matt Kean said the online calculator would allow residents to "compare village prices and ultimately ensure they're not getting ripped off by unscrupulous operators".

"It can be overwhelming to assess retirement village costs due to a wide range of fees and charges that are often incurred at different times," he said.

A compliance blitz and an inquiry into the sector, headed by Kathryn Greiner, who recently conducted an internal review of the NSW Catholic school system, has begun.

The inquiry will include a number of community forums to be held around the state, seeking feedback from the public.

Community forum sessions will be held at the following locations:

• Hornsby RSL, 4 High Street, Hornsby - Tuesday October 3, 10am-12pm


• Newcastle Exhibition Centre, 309 King St, Newcastle West - Wednesday October 4, 10am-12pm


• Wagga Wagga International Hotel, Cnr Lake Albert Rd & Sturt Hwy, Wagga - Tuesday October 10, 10am-12pm


• Wollongong Diggers Club, 82 Church Street, Wollongong - Thursday October 12 - 10am-12pm


• SMC Conference & Function Centre, 66 Goulburn Street, Sydney - Tuesday October 17 - 10am-12pm


• Ballina RSL, 1 Grant Street, Ballina - Wednesday October 18 - 10am-12pm


• Port Macquarie Golf Club, Ocean Drive, Port Macquarie - Thursday, October 19, 10am-12pm

See full article here:- http://www.smh.com.au/business/consumer-affairs/estimated-cost-calculator-introduced-amid-crackdown-on-retirement-village-sector-20170911-gyez5n.html

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