Retirement village operators

[Davexl]

But are they going to provide care? Retirees generally want to move into a retirement village where they can progress up the care ladder. What level of care can Fletchers offer?

Good point - no further details at this time...

[dobby41]

But are they going to provide care? Retirees generally want to move into a retirement village where they can progress up the care ladder. What level of care can Fletchers offer?

Not all of them do.
What % of people actually move up the continuum of care, and what % choose a village based on that?
There seems to be an increase in the number of villages that are purely lifestyle and especially 50+ or 55+.

[bull....]

Retirement village owners promise to address long waits for refunds and review occupation rights agreements

https://www.stuff.co.nz/business/125...hts-agreements

[justakiwi]

Wasn’t sure where to post this but it applies to any retirement village provider that also provides care. I have only just become aware of this today. I am now busy trying to find out if I can transfer from my current Careerforce course to this new one. Very keen to do the Palliative Care strand in particular, and possibly the other two down the track.

This is an excellent initiative on the part of the government and will have a significant impact on the quality of caregivers working in aged care. Not compulsory currently, but I suspect providers may well choose to make it so down the track. Apologies if it has already been posted/everyone is already aware.


Joint media release from Careerforce and NZACA
21 April 2021

“If we are looking for any positives arising from the Covid-19 pandemic, one has to be the greater recognition and appreciation of our essential workers, and the importance of attracting and upskilling the aged care workforce”. Jane Wenman, Chief Executive of Industry Training Organisation Careerforce was commenting as she announced the launch of its new Apprenticeship in Aged Care, with specialisations in dementia, palliative care, and complex conditions. “We’re excited by the launch of this new programme, and the important role it will play in supporting critical workforce upskilling”.
The aged care sector expressed the need for a more specialised programme to help cope with increasingly challenging demands from an ageing population. “We have seen how the essential aged care workforce stepped up during the lockdown. This new aged care apprenticeship programme will give these workers the opportunity to become specialist healthcare assistants providing palliative care, dementia care and supporting people with complex conditions,” says Wenman.
The New Zealand Aged Care Association (NZACA) welcomes the new apprenticeship programme. NZACA Chief Executive, Simon Wallace says. “Workforce development is a top priority for the NZACA and its members that make up more than 90% of the 40,000 rest home beds in the sector. Healthcare assistants make up the largest proportion of the aged residential care (ARC) workforce at around 22,000 and the COVID-19 pandemic has demonstrated the increasing importance of the role. The Aged Care Apprenticeship is a welcome initiative to both upskill our current workforce and attract more Kiwis into the sector.”
The Healthcare Assistance for Aged Care apprenticeship programme is targeted at those working with elderly people in aged residential care facilities, specialised dementia units, therapeutic programmes, community support, hospitals, primary care or hospice environments.
Wallace expects a high uptake of the programme. “The NZACA and its members have been calling for such an apprenticeship programme to ensure our sector has the workforce able to provide a consistently high quality of care. I expect this will be welcome news to our members and there will be a high uptake.”
With the Targeted Training and Apprenticeship Fund (TTAF), Careerforce apprenticeship programmes are currently fees free for enrolments through to December 2022. Employers may also qualify for the Government’s Apprenticeship Boost fund – designed to help employers retain and bring on new apprentices by providing them with up to a maximum of $16,000 for each apprentice they enroll.
“In an historically underfunded industry, the TTAF and Apprenticeship Boost will be well received by employers,” says Wallace.
This level 4 complex apprenticeship programme is designed to be completed in 2 years on-the-job, and apprentices will have the support of Apprenticeship Advisors who will provide pastoral care.
“There is certainly a high level of commitment involved in any upskilling opportunity especially if you are also working. However, we are committed to supporting the aged care apprentices to have the best possible experience,” says Wenman.
The NZACA is looking forward to working together with Careerforce to benefit the aged care sector and the older New Zealanders being cared for.“

[macduffy]

Business Desk has an article by Jenny Ruth, critical of the CFFC submission on retirement sector companies. Worth reading but paywalled, unfortunately.

[KJMLimited]

It was focussed on OCA. Jenny has taken the Retirement Commission to task about it. It was written by policy wonks using hearsay and without peer review. Generally a bit of research of highly dubious quality by the Retirement Commission.

[artemis]

In the Herald today -

The document out today said: "There was strong support for reaching some arrangement to share the capital gain between the resident and the operator."

No reason that facilities with a different model can't be set up. There are already some. People can choose the contract they prefer, and if there is enough demand for a different model then the market will eventually offer these. Provided the supplier can make a buck, or is a charitable organisation.

Residents who buy into the occupational rights model may be older but that doesn't mean they are stupid. And clearly they have assets. And there's the rub. How much of the support for capital gain is from family hoping to inherit.

http://www.nzherald.co.nz/business/r...5MH5JWOHYUSC5E

[bull....]

In the Herald today -

The document out today said: "There was strong support for reaching some arrangement to share the capital gain between the resident and the operator."

No reason that facilities with a different model can't be set up. There are already some. People can choose the contract they prefer, and if there is enough demand for a different model then the market will eventually offer these. Provided the supplier can make a buck, or is a charitable organisation.

Residents who buy into the occupational rights model may be older but that doesn't mean they are stupid. And clearly they have assets. And there's the rub. How much of the support for capital gain is from family hoping to inherit.

www.nzherald.co.nz/business/retirement-commissioner-jane-wrightson-urges-urgent-retirement-village-sector-review/PZ5MDJP5YOVX5MH5JWOHYUSC5E

Peter Carr, Retirement Village Residents Association president, said such a powerful call for change "makes a mockery of the industry operator's view that 96 per cent of retirement village residents are living in an aura of violins and kumbaya.

[traineeinvestor]

A case of being careful what you wish for: if all the changes being demanded (or even some of them) get pushed through then the supply of retirement units will reduce and the cost of the remaining supply will go up. Economics 101.

[artemis]

Another opinion piece today -

How residents get trapped in the retirement village paradox

Maybe I have to resile from my view above that older doesn't necessarily stupid, if this excerpt is true:

... It’s in the occupation right agreement, we all know that. But every meeting I go to my first question to an audience is how many have read your ORA and understood it since you moved in? An average 2% of hands go up and that’s appalling. At the front end of the exercise, they go to the lawyer because they have to … then they put the agreement in a drawer and forget it.”

https://thespinoff.co.nz/business/09...llage-paradox/