Following a similar review in New South Wales, South Australia’s retirement village act is under review.

It follows short-comings in the current legislation that were highlighted when a large retirement village went into administration last year.

This is the first time the Act has been reviewed in over ten years according to Minister for Ageing Jack Snelling.

"There are issues in relation to the current powers of investigation and auditing requirements that govern a village's operation while they are in receivership," Mr Snelling said.

"People are living longer, our population as a whole is ageing and more people are living in retirement villages.

"The act needs to be updated to reflect these changes and ensure people are adequately protected."

A recent review of the Retirement Villages Act regulations received over 350 submissions received.

"The review of the regulations highlighted the need to consider the act more generally, and this review will allow people to have their say on a much broader range of issues," said Mr Snelling.

"I anticipate that through reviewing the act we will strengthen protections provided to residents and clarify requirements for groups who operate retirement villages.”

Approximately 24,400 residents live in over 522 registered retirement villages in South Australia.