Better late than never for retirement residents

Retirement village residents cheated out of rightful compensation following the Christchurch earthquakes have finally been given a reprieve from the Government, 17 months after they raised their concerns, says Labour’s spokesperson for Building and Construction Raymond Huo.

A legal loophole in the Retirement Villages Code of Practice saw 200 elderly residents paid out significantly less than what their units were worth in the aftermath of the quakes. In May last year 3,600 residents made a plea to the Minister to address the situation, but their concerns were left unresolved, until today.

“Building and Construction Minister Maurice Williamson’s decision to ensure that owners of retirement village units are entitled to the original capital sum of their investment following natural disasters is better late than never.

“While a quick resolution could have been easily managed, this is an important variation and for residents, it will have been worth the wait,” Raymond Huo said.

“But Mr Williamson has nothing to crow about.

“If congratulations are in order, they should be given to the residents themselves for organising an effective campaign that captured the attention of the Minister,” Raymond Huo said.