Free advice offered on retirement village choice

The Commission for Financial Capability is holding a free community seminar Thinking of Living in a Retirement Village? in Hamilton at the pavilion of the Hamilton Workingman's Club, in Commerce St on Tuesday, August 15 starting at 6pm.

Tea and light refreshments for registered attendees from 5.30pm.

"The numbers of 75+ year olds likely to choose retirement village living will likely treble over the next 20 years," says Troy Churton, national manager - retirement villages at the commission.

"Currently around 12.4 per cent of over 75+ folks, around 38 000 people, live in the nearly 400 registered retirement villages around the country.

"Retirement village living is growing in popularity but there is an increasing range of products available. We want to help people make the decision whether village living is for them or not, and help people get it right first time," says Churton.

"In our seminar we discuss personal circumstances, legal issues and financial implications and suggest practical tips and questions to ask an operator and your lawyer before signing up." he says. "This is not a marketing event.

"For example, finding out about potential future development, understanding any costs associated with a transfer from one unit to another or into care, risks associated with the resale process, understanding whether weekly fees can change and so on, considering whether it makes financial sense to move to a village or stay in your home - these are just some of the topical issues we cover," he says.

"The commission is a Crown agency and people strongly appreciate our neutrality. The commission recognises villages are one future accommodation option that retiring folk may be considering."

Joining Churton as a guest at the seminar will be the executive officer of the Retirement Villages Association.

People can register easily by calling 0800 268 269 or online through the commission website and on Eventfinder. Because it is a free event which provides materials and light tea on arrival, people must register, Churton says. Seats are already filling quite quickly.