Yesterday, it was revealed that retirement village providers in Queensland are not required to pay back residents for 18 months after they leave.

CEO of National Seniors Australia called for new state government legislation to amend the buyback timeframe.

However, Retirement Living Executive Director Daniel Gannon told Dean Miller on 4BC Afternoons, “Any suggestion that an operator is holding onto the money for 18 months after the home is sold isn’t accurate.”

“We don’t see any problems in a significant reduction to the buyback timeframe, what we are seeing right around the country, is general harmonisation around 12-month buybacks,” Mr Gannon continued.

Hear more highlights from 4BC Afternoons below: 

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