To develop altruistic tendencies and encourage caregiving in Singaporean society, plans are afoot that people should volunteer for this cause as it can be used as credits to get care, respite or have others to care for them in later life when they themselves become old.
This is one of the proposals found in the Institute of Policy Report (IPS) report Action Plan Singapore which has possible answers to Singapore's future problems and how innovation, skills and longevity would affect that future.
In the area of longevity, there is a proposal of 'Eldersave' time-banking system which would allow the society to consider how time "invested in essential non-market activities such as caregiving and volunteerism should be more properly valued".
Christopher Gee, IPS senior research fellow says, "If you do recognise time spent on caregiving, more people might be willing to do it, and you'll enlarge the pool of volunteers and caregivers. So, it's like taking turns to provide care."
For developing a new system of caregiving Eldersave, a national level time-use survey would have to be set up by December next year, along with a working committee established by a government agency with expertise in manpower issues to study Eldersave.
The Eldersave scheme would have been operationalised for those aged 30 and below by December 2022, while flexible care and work arrangements would have been in place for half of the Singaporean workforce.
Similarly, there is plan that Eldersave would have kicked in for those aged 50 and below by December 2026, while 80 per cent of the Singaporean workforce would be enjoying the flexible care and work arrangements.