Retirement unit quake payments wanted

9:16 am on 12 October 2012

Grey Power says new rules aimed at giving people in retirement villages better payouts after natural disasters should include payments for Christchurch people affected by the earthquakes.

Under Government changes to the retirement village code of practice, people who own units will be able to get back all the money they invested if they are forced to leave.

Currently, operators can deduct maintenance costs from the final sum.

Grey Power Christchurch president Ian Brownie said the changes are good, but do nothing to help retirees affected by the quakes.

Mr Brownie said people in several retirement villages were forced to leave. Some were paid $40,000 less than they invested.

He said the Government should make up the difference.