Which retirement village operators, if any, provided audited financial information to officials, pertaining to the Retirement Villages Act review: estimated costs of capital repayment timeframes?

Answer

Retirement village operators did not provide audited financial information to the Ministry. I note that section 13 of the Retirement Villages Act 2003 requires all registered retirement village operators to file an audited annual return on the Retirement Villages Register. The Register is available on the New Zealand Companies Office’s website. The Ministry used a range of information sources, many of which are publicly available. These sources are cited in the Regulatory Impact Statement, Financial Exit Matters, which is available on the Ministry’s website. The Ministry released a discussion document on options for changes to the Retirement Villages Act in 2023 which received more than 11,000 submissions, including from key retirement village operators. The Ministry received a range of submissions from operators, including Generus Living Group, Masonic Villages Trust, Bupa, and others.