Residents' Ponzi claim 'reckless and irresponsible': RVA

Executive director John Collyns said members have always been transparent on fees. (Image: supplied)

Mon, 27 Sep 2021

An accusation retirement villages operate like "a quasi-Ponzi scheme" is "not only plain wrong, but also reckless and irresponsible", the group representing village operators said."Not a single resident has lost their money moving into a retirement village, even during the global financial crisis," said Retirement Villages Association executive director John Collyns."Everyone has been paid out according to their contracts and, when the situation was unfair, as after the Christchurch earthquakes, the RVA encour...

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