The NSW Minister for Innovation & Better Regulation, Victor Dominello, has announced that the Government will fund $128,000 for KPMG to develop an app that will compare retirement village fees. 

It has not been explained how it will do so but a consultation committee has been formed including COTA NSW and the Retirement Village Residents Association.

The Minister has said: “The tool would empower retirees to make informed decisions about which location pursuits their needs. Retirement village fees are often complex and confusing, but increasing transparency in the marketplace will help reduce the burden for retirees by allowing them to compare administrative fees and charges before signing a contract”.

The app is due to be completed by December.