Abbott’s raid on the bank accounts of retirees and pensioners has hit a new low. Ten years ago my wife and I made arrangements with a retirement village to be put on a waiting list for persons wishing to buy into (when ready) their retirement complex.
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Every now and again I would receive notification from the village asking me if we wanted to take up residence. The terms of leasing a villa was the payment of x amount of dollars and a monthly fee for upkeep of the villa and the gardens; when we both passed away the amount we paid was refunded into the estate; then the villa resold with the retirement management keeping any appreciated value.
A few weeks ago I received notification, that due to legislation there has been a change in policy.
The new arrangements are that as villas come available we make application with others for the accommodation, if successful, we will be required to pay a bond of $240,000 refundable into our estate on our passing, the other fees and costs would be divulged on application.
Under the new rules, pensioners and those among us that do not own property will find themselves confined to unaffordable substandard accommodation in their old age.
