Swiss Time Bank Concept: A Revolutionary Approach to Banking Time

They start to save time from taking care of the seniors when they are young, and then using it when they get old, sick, or need someone to take care of them.

Time is money: People in Switzerland can actually deposit their time in banks.

Although most people are aware of the saying "time is money," few consider it to be a legitimate substitute for cash, and even fewer have utilized it as such.

When I went to Switzerland I rented a house near a school there. The homeowner was 67-year-old Christina a retired teacher who taught several students in her secondary school over the years. The pension facility in Switzerland is much better. Christina was also getting a great pension and wasn’t worried about a living.

Yet she admitted the job of caring for an 87-year-old lonely. I asked Christina was she doing this for the money?

Her response left me surprised. She said, “I don’t do this work for money but I deposit my time in ‘TimeBank’. When I’m old and unable to move, I’ll be able to withdraw it from TimeBank.”

First time I heard about TimeBank. I got curious and I was interested to learn more about it.

What is the scheme?

TimeBank is a barter system that allows people to "deposit" and "withdraw" their time based on their abilities and needs.

This ideology is both basic and noble in its vision, and it is founded on altruistic principles that date back to a simpler era. 

The original ‘TimeBank’ was an old-age pension program developed by the Swiss Federal Ministry of Social Security. When people are young, they ‘ collect ‘ time by serving people, and then they themselves become homeless or sick or any other reason to ‘ withdraw ‘ it when needed.

The candidate should be healthy, well-oriented, and loving. Every day he takes care of and helps the needy.

The time she serves is deposited in her personal ‘Time’ account of the social security system.

Christina going to work twice a week. Two hours each time helping that 87 years old, shopping for them, cleaning their house, taking them to snuggle in the sun, talking to them.

According to the agreement, after its one year of service, the ‘ TimeBank ‘ will give it a ‘ TimeBank Card ‘ counting its total service hours. When she needs help she can use this card to ‘withdraw’ time deposited with interest.

After verifying the information, ‘TimeBank’ will send the accountant who can help him to the hospital or home.

One day I was at school and got a call from Christina saying she fell off the table cleaning the window in the house. I left half off and ran home and admitted Christina to the hospital for treatment. She was injured by an ankle heel and was forced to rest on the cot for a while.

When I was worried about who would take care of her now She immediately told me not to worry. She had applied for withdrawal in TimeBank! In two hours, a volunteer was also present in the service of Christina. TimeBank had arranged for it.

For a month after that, the volunteer took very good care of Christina, spent time with her every day, talked, and made her delicious food. Within a month, Christina was fully recovered under the supervision of this volunteer.

Christina is back to work after recovery. She wished, she could deposit as much time in ‘TimeBank’ as she could work or serve in this way as long as she is healthy.

The use of ‘time bank’ to help the elderly is popular in Switzerland. This practice not only saves the pension expenses of the country but also solves other social problems.

Many Swiss citizens enthusiastically welcome this old-age pension practice and join the TimeBank to be part of it.

The Swiss government has also passed a law related to the TimeBank Pension Scheme.

What if we have such a TimeBank there too?

Source: via Internet

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