The operator must give the resident (or the person entitled to the resident’s exit entitlement) a statement showing how the exit entitlement is worked out, when paying an exit entitlement.
Operators can use this form, or a different version of the form can be used provided it includes the required information set out in Schedule 11 of the Retirement Villages Regulations 2026.
Operators who do not provide a statement can be fined:
- up to $20,000 for individuals
- up to $100,000 for corporations.
See more information about exit entitlements.