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SINGAPORE: A co-operative aimed at the needs of the elderly in Singapore could be launched soon, to engage them in ad-hoc jobs while addressing their social concerns at the same time.
And there should be more of such co-ops - business societies aimed at benefiting its members - as co-ops have helped to contribute to Singapore's economic and social needs, said Minister for Community Development, Youth and Sports Vivian Balakrishnan at the Singapore National Co-operative Federation's (SNCF) annual co-op leaders' conference yesterday.
Catering to the elderly is a "potential area of growth" for co-ops, and as one of the fastest-ageing populations in Asia, Singapore has the challenge of developing the right policies to meet the needs of this group. "Specific issues of concern for the elderly include financial security, employment, living arrangements and health care," said Dr Balakrishnan. "Co-ops could provide tremendous value-add by providing services that meet (elderly folks') needs."
The Silver Co-op - to be launched by Central Singapore, North East and South East Community Development Councils - will hire the elderly for ad-hoc jobs in light manufacturing or in the assembly of products out-sourced by commercial companies.
Two other co-ops founded by CDCs with strong social missions were launched last year, with the help of the Central Co-Operative Fund administered by SNCF.
- TODAY/sc
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