More than 40,000 people have signed a Consumer NZ petition that backs Labour’s Members Bill to ensure a fairer deal for retirement village residents.

“My Bill would ensure retirement village residents get a much better, fairer deal. It would require villages to pay back residents’ money within three months of leaving a village,” Labour seniors spokesperson Ingrid Leary said.

“From conversations with residents across the country to the overwhelming support for this petition, the message from New Zealanders is clear: they want my Bill be to passed into law.

“Residents and their families are currently trapped in financial limbo when leaving a village, with no real certainty over when they will see their money returned.

“The changes proposed by the Government to the Retirement Villages Act only mandate repayments within twelve months – that’s not good enough for families waiting to move a parent into care, find alternative accommodation or finalise an estate.

“The Government’s changes also wouldn’t apply to the 56,000 residents currently living in retirement villages. My Bill would ensure all current and future residents would get their money back within a three-month period.

“It’s a much fairer deal for thousands of older New Zealanders and their families,” Ingrid Leary said.