NSW to probe dodgy practices in retirement villages

The NSW Government is promising a crackdown on retirement villages to make the sector fairer and safer for retirees.

Fair Trading Minister Matt Kean unveiled a plan to tighten regulations on operators, with major complaints arising about hidden fees and costs financially crippling retirees.

"Retirees have worked hard their whole life so I’ll be coming down on any operators who have not complied with the law," Mr Kean said.

Fair Trading will embark on a compliance blitz of villages and to clear up grey areas around fees and contracts.

An online calculator will be set up to provide full estimated costs to people looking enter a retirement village.

The Retirement Villages Regulation 2009 will be overhauled to provide more transparency around fees and costs.

"This plan will put consumers first by making contracts more transparent, giving residents the tools to compare costs, and cracking down on providers through a compliance blitz," Mr Kean said.

An inquiry has also been launched, headed up by Kathryn Greiner, to explore dodgy practices in retirement villages.