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Seminars rapidly filling up

Posted to Financial Capability Retirement Section on 25-05-2015

A series of free seminars around the country has caught the attention of those thinking about living in retirement villages.

Six of the nine events, run by the Commission for Financial Capability with support from the Retirement Villages Association and experienced legal practitioners, are already full. But there are still some places left at the seminars in Whangarei, Dunedin and Invercargill.

The response has been so great that a new series of seminars is now being planned for later in the year and waiting lists for these are already filling up.

"There is clearly great interest among the public in finding out more about retirement villages.  We want to help them understand the  lifestyle choices and the different options available,” said David Boyle, the Commission’s Group Manager for Investor Education.

Latest predictions estimate the number of people moving into retirement villages will increase by 100% to 60,000 by 2050.

But it is a step that some find daunting, so the seminars will help people to weigh up the pros and cons and understand some of the questions they should be asking.

There are currently 607,000 New Zealanders aged 65 and over. By 2050 that is expected to reach 1.5 million.

Home ownership is dropping: from 75% in 1991 to 65% today and that trend is expected to continue.

The Commission wants to offer practical tips and advice to those considering retirement villages as an alternative option, so they can make informed decisions before they sign on the dotted line.

The seminars will be interactive and only 90 minutes long, with plenty of opportunities to ask questions.

Topics covered will include the types of retirement village structures, costs and operations. The seminars will also explain some important residents’ rights and where people can find out more information.

“The number of people living in retirement villages will double over the next 30 years. Our seminars focus on practical things people need to consider before choosing to live in a retirement village and before they sign up to live in one,” said David.

More information about the seminars in Whangarei, Dunedin and Invercargill can be found at www.cffc.org.nz. Type SEMINAR or call 0800 268 269.


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