The new contracts called Aveo Certainty and Aveo Essentials will provide prospective residents with a choice of three options that offer enhanced conditions, greater flexibility and increased financing options and comes three years after the retirement provider introduced the Aveo Way contract in 2015.

With more than 8.7 million Australians expected to be over the age of 65 by 2056*, the need for affordable and flexible retirement options is becoming more critical.

Aveo Group CEO Geoff Grady said the Aveo Certainty contract in particular, addresses issues around transition into higher levels of care which often occurs at a time when financial pressures and advanced care requirements need to be resolved quickly, putting immense pressure on seniors and their families.

According to Mr Grady the Aveo Certainty agreement aims to alleviate the uncertainty by allowing residents to move seamlessly into higher levels of care when needed or between Aveo communities by ensuring that residents can transfer to a Freedom Aged Care unit without incurring an additional Deferred Management Fee (DMF). 

Aveo Certainty residents can also transfer between communities in the Aveo portfolio around Australia under certain conditions enabling them to stay close to their families.

The transfers are covered by a set fee of $2,000 per annum paid upon exit.

The Aveo Essentials contract is described by Mr Grady as suitable for seniors looking for an easy and affordable entry into retirement living.