Retirement villages operate like 'quasi-Ponzi schemes'

Retirement villages operate like 'quasi-Ponzi schemes'
Residents in retirement villages don't get capital gains. (Image: Deposit Photos)
Jenny Ruth
The Retirement Village Residents Association of New Zealand told a parliamentary select committee retirement villages operate almost like "a quasi-Ponzi scheme" and asked the committee to support an urgent review of the relevant legislation.Association member Anton Coetzee said while the relevant minister has agreed to the legislation, the Retirement Villages Act 2003 needed to be reviewed. "There seems to be no urgency about this."Ayesha Verrall is seniors minister in the current government.Coetzee said a review could take...

More Markets

Your mid-year investment health check
Markets

Simon Robertson: Your mid-year investment health check

What should you really be looking for from your fundie? 

Simon Robertson 05 Jul 2025
Tourism Holdings stalls as NZ sharemarket ends week on high
Markets Market Close

Tourism Holdings stalls as NZ sharemarket ends week on high

The NZ sharemarket bounced back as large-cap stocks balanced gains and losses.

Tom Raynel 04 Jul 2025
Forsyth Barr shifts Turners Automotive to neutral
Markets

Forsyth Barr shifts Turners Automotive to neutral

The company has delivered five consecutive years of record earnings.

Rebecca Howard 04 Jul 2025
Vital board backs Tait takeover
Markets

Vital board backs Tait takeover

Vital’s board has unanimously recommended that shareholders and option holders accept a full takeover offer from Tait Communications, despite their view that it undervalues the company.In May, Vital shares rallied after it disclosed that Tait, a Christchurch-based critical commun...

Gregor Thompson 04 Jul 2025