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21-10-2017, 10:03 AM
#5661
Originally Posted by bull....
big surprise next week on min wage levels..... wow people be happy maybe not retirement co,s
Big surprise on minimum wage levels? I don't think this will impact retirement villages much as most of them are now well above minimum wage - and labour's proposal is just 25c higher than what national would likely have done - this will not impact any retirement village operator that much, if any at all.
Those in retail on the other hand...
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21-10-2017, 10:31 AM
#5662
Originally Posted by trader_jackson
Big surprise on minimum wage levels? I don't think this will impact retirement villages much as most of them are now well above minimum wage - and labour's proposal is just 25c higher than what national would likely have done - this will not impact any retirement village operator that much, if any at all.
Those in retail on the other hand...
retirement village operators are already making plans to circumvent the announcement awhile ago in regard to that landmark payrate deal. there plans involve renaming job descriptions duties etc to get staff back to min wage... the announcement next week will be a shock remember winston policy was for $20 min wage.
one step ahead of the herd
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21-10-2017, 12:29 PM
#5663
My wife told me all care assistants at retirement sector are already at $20 an hour...it is all in the account....
i guess, the wage increase with labour will impacted on retail, hospitality, food industry
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21-10-2017, 12:35 PM
#5664
Originally Posted by bull....
retirement village operators are already making plans to circumvent the announcement awhile ago in regard to that landmark payrate deal. there plans involve renaming job descriptions duties etc to get staff back to min wage... the announcement next week will be a shock remember winston policy was for $20 min wage.
would you care to to detail this "announcement" you speak of? I am not sure if you are trying to scaremonger (if so, you and winston would get along very well), but I can almost guarantee they won't hike the minimum wage to $20 an hour come 1 April next year, given Labour campaigned on $16.50 and the greens on $18 something.
And I'm sure they are trying to minimize wage costs... but at the end of the day these costs, like any other costs (eg property construction) are just passed onto end consumers in some way or another - something everyone likes to forget it would seem. Those who cannot pass high costs, whether it be wages or other costs or become more efficient, will struggle under any government arrangement - and I believe all the retirement operators will easily be able to pass on higher costs, due to their strong brands and other offerings which make retiring in a listed village 'better' than some others (eg ones run down and facing closure)
And thank you King1212 for your comment straight from 'the boots on the ground' (and not just looking at what one party with 7% of the vote said they would do in a campaign, because we all know politicians do exactly as they say, especially those that have a last name of Winston lol) - also reiterating what I had assumed.
Last edited by trader_jackson; 21-10-2017 at 12:38 PM.
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22-10-2017, 08:51 PM
#5665
Originally Posted by King1212
why immigration got to do with the retirement sector? I can understand property sector but....I don't think immigration will have any effects on retirement sector.
aging kiwis are increasing...no matter what people will get old n need to retire. Regarding the staff, most of staff...already got PR due to booming nursing and healthcare sector couple years ago.
most oldies have assets....n money...
Many oldies don’t have assets and money, at least not when they go into rest home care as 72% were receiving residential care in 2013.
I couldn’t find a more recent figure although I seem to remember seeing around 66%. As house prices rise more people who own houses are over the asset threshold of $224,654. Some people would not have been eligible for residential care subsidy when they first entered care but if they are there for several years their assets would decrease by about $40,000 a year when paying the full fees, and they may then be eligible
This article is four years old.
http://www.stuff.co.nz/business/9185...t-of-being-old Sep 22 2013
Aged care is largely funded by the Government, with 72 per cent of aged-care residents receiving a residential care subsidy, adding up to more than $900 million a year, though residents pay around $730m a year more as a result of income and asset-testing on subsidies.
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23-10-2017, 12:45 AM
#5666
That is because they lied...to get the funding. They sold their assets n changed or gave it to their children...
Once done..their children neglected them in the rest home. Some smart oldies, they paid using their money...n only access part of funding. Their children are visiting them..n caring about them. Their old retirement life are happy n quality
Some are really sad n broke oldies....no savings at all.access to full funding...they still being looked after but their life are miserable ...can not do things...n what they want. Families neglected them...
So guys...be smart with your retirement fund..pay the fees...enjoyed quality care
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23-10-2017, 12:52 AM
#5667
Oldies that have money n assets will mostly cash in n go to retirement units...
Those needs care will go to unit care...
Funding will be available..therefore ARV OCA will be less impacted during the property market downturn. Because revenue stream from OCA n ARV are keep flowing from the government funding ..
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24-10-2017, 12:05 AM
#5668
Just curious how many folk here believe that folk retiring and seeking an retirement entity will defer there decision because the value of there home has not changed recently...or perhaps the value has changed 5-10 percent.....Like from what was say 800k to 750 k...when ....I'm guessing the entry price to,a retirement entity...is between 150-400 k....cheers...
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24-10-2017, 07:10 AM
#5669
Originally Posted by troyvdh
Just curious how many folk here believe that folk retiring and seeking an retirement entity will defer there decision because the value of there home has not changed recently...or perhaps the value has changed 5-10 percent.....Like from what was say 800k to 750 k...when ....I'm guessing the entry price to,a retirement entity...is between 150-400 k....cheers...
if property fall wont have as much money to purchase retirement unit, so you buy cheaper lower quality unit or you defer purchase of unit waiting for property price to recover. either way falling property bad for retirement less demand for units or less margin as they have to build cheaper unit and then you get 2 tier market rich peoples units and everyone else.
one step ahead of the herd
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24-10-2017, 08:08 AM
#5670
Originally Posted by troyvdh
Just curious how many folk here believe that folk retiring and seeking an retirement entity will defer there decision because the value of there home has not changed recently...or perhaps the value has changed 5-10 percent.....Like from what was say 800k to 750 k...when ....I'm guessing the entry price to,a retirement entity...is between 150-400 k....cheers...
Sum have said that their business performance / sales in previous housing downturns has not been impacted so take from that what you will
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