Young children live away from home due to study and work, sometimes even abroad. Older people in such situations feel lonely at home. There is no one to take care of them. According to a report in WION, the Swiss government has launched a new plan to address this issue. Time Bank is the name of this scheme.
By serving an elderly person today, you can save that time in the timebank, so that in the future if you or someone close to you needs it, you can get some help. This means you don’t have to worry about who will take care of you as you get older. You can do this by taking some time now and making good use of it later in life.
Under this scheme the people of the country can take care of the health of the needy elderly or spend time with them to alleviate their loneliness.
The time spent by these volunteers is credited to their social security account as a ‘time unit’. When these volunteers reach retirement age and need help with some tasks, TimeBank will arrange volunteers for them.
After helping an elderly person, they can use the time bank and get help for as long as they deposit. The scheme is run by
The Swiss Ministry of Health is designed specifically for the elderly who live alone.
This concept is very popular all over the world. As a result, the United States, the United Kingdom, Japan, New Zealand, Spain, and Greece have all adopted the plan.
Singapore is also said to be considering implementing the plan soon. In India, on the other hand, 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. These can include IT support, counseling, childcare, salon services, gardening, home repair and other time consuming services. TimeBank keeps track of the time spent on these tasks and then stores them in unit form.
You may 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.