Young children stay away from home due to their studies and jobs, sometimes even abroad. In such a situation, the elderly feel lonely at home. There is no one to take care of them. According to a report by WION, the Swiss government has launched a new scheme to address the same issue. The name of the scheme is ‘Time Bank’.
By serving an elderly person today, you can save that time in TimeBank, so that you can get some help in future if you or someone close to you needs it. This means you won’t have to worry about who will take care of you when you get older. You can do this by taking some time out now and making good use of it later in life.
Under this scheme people in the country can take care of the health of needy elderly or spend time with them so that their loneliness can be overcome.
The time spent by these volunteers is credited to their Social Security accounts as ‘time units’. When these volunteers reach retirement age and need assistance with certain tasks, TimeBank will arrange for volunteers for them.
After helping an elderly person, they can use Time Bank to deposit the same amount for themselves as they have deposited. scheme, which is run by
Swiss Ministry of Health, specially designed for elderly people living alone.
This concept is very much liked all over the world. As a result, the United States, United Kingdom, Japan, New Zealand, Spain and Greece have all adopted the scheme.
It is being said that Singapore is also considering to implement this plan soon. On the other hand, in India, the National Human Rights Commission (NRHC) recommended in 2018 that the scheme be implemented in the country.
Following the recommendations of the committee, Madhya Pradesh became the first state in India to set up a Time Bank in 2019.
The transaction model is the idea behind the TimeBank concept. This may include a range of services such as IT support, counseling, childcare, salon services, gardening, home repairs, and other time-consuming tasks. TimeBank keeps track of the time spent on these tasks and then stores it in unit form.
You might be surprised to know that TimeBank attracts not only middle-aged people but also a large number of Swiss youth. They believe that as they get older, they will need help, so the time they earn will be useful.
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