S Sridhar, CMD, Central Bank of India and chairman of the National Housing Bank, talks to Sucheta Dalal on reverse mortgage, the changing role of NHB and rejuvenating CBI. In the first part of a three-part series, we explore how reverse mortgage has evolved as a product
Sucheta Dalal (ML): At National Housing Bank (NHB), you are credited with developing a new reverse mortgage (RM) product, that is far superior to the earlier one, which was disastrous. Would you tell us about the process of developing the new product?
S Sridhar (SS): I wouldn't say that the earlier product was a disaster. It has worked. There are a lot of people who have looked at RM as a temporary loan. They are 60 and children are not yet that well settled. So they have looked at it as a temporary loan and hope that they will be able to repay it in 10 years and redeem the mortgage.
ML: So they see it as a loan against property?
SS: Absolutely. It is a loan against property, but there are two differences. RM is a limited recourse product, as against traditional loan against property which has unlimited recourse. We can only recover from the property and not the borrower's estate. That is why, from the regulatory perspective - whether it is NHB or the RBI (Reserve Bank of India), there is a concern that it must not be misused or the product will get a bad name. After all, there are senior citizens who very active in business and also very cunning and shrewd and there was a concern that people should not take money against property and use it to speculate in the stock market or something. This was a concern with the RBI and it was a valid one. It is a fact that when I was meeting senior citizen groups in Mumbai and Pune in connection with the product, there were people who asked questions like can we take a CC (cash credit) limit against property and draw against it? That is not the segment we are looking at. We are looking at people who don't have a pension - and they are a huge number in our country - but have invested in a house. And they want to live a little better life, since the quality of life comes down sharply after retirement. Yet, not everybody in that segment needs a loan either - so we recognise that it is a niche product, but we still have to create awareness about it.
Having said that, there has been a fair amount of loans that have been sanctioned (Until 31 March 2010, Rs1,413 crore has been sanctioned to 7,034 senior citizens through RM schemes which are being offered by 23 banks and two housing finance companies). Of this, Rs100 crore has been sanctioned under the new RM loan-enabled annuity, through 40 loans under the earlier scheme as well, but there are certain issues.
ML: What are these?
SS: One of the issues that came out as we worked on this product was that the RM product is psychologically resented by children. Many of them see their legacy going away. It is perverse, but many children do not want their parents to have a better life. This is not universal, but I did get this feedback even from parents. There are instances when the son or daughter-in-law will ask why they need more money or to spend on a holiday. So there is an element of psychological tension associated with this product. Another aspect is the attitude of the parents too. There are some who say, "My son and daughter don't treat me well," but they still say, "there is no way we can allow the house we have built to go to the bank." We explain to them that the bank getting the house is only the last recourse and the son can always repay the loan and get the house back. Here too, we have had cases where the parents said if the RM extended for 30 years, the loan amount would mount significantly and make it difficult for the son to repay the loan; so they preferred to tighten their belt and live with what they have. So there is a fair amount of cultural issue involved in RM.
Read in detail:‘Reverse mortgage is psychologically resented by some children’ says S Sridhar NHB chief - Moneylife: Personal Finance Magazine
Wednesday, July 21, 2010
Tuesday, July 20, 2010
HOW TO TAKE CARE OF THE ELDERLY PERSON’S SKIN THE WAY THE NURSING HOME NURSE Does
Nurses know when the elderly person no longer moves independently, they will need to be extra vigilant in their skin care.
Nurses know:
* Preventing wounds is much easier than healing them
* An elderly person can develop a pressure wound in 2-6 hours of not changing position
* A pressure wound is painful
* Healing a pressure wound is costly
* Pressure wounds can develop anywhere there is a bone under the skin – elbows, heels, hips, buttocks and even the face if the elder has been lying in the same position for a very long time on their face
* Moisture makes the skin breakdown faster
* Chair positioning is as important as positioning an elder in bed – slouching in a chair can cause wounds on the spine and the elbow
* If the elder is sitting in a wheelchair for long periods of time, a well made cushion not only will provide better weight distribution, sitting balance and pressure redistribution but also provide a more stable surface for the elder to sit on and prevent the “sling-seat” so common in wheelchairs.
Things to look for in the products you choose:
* Is the fabric soft?
* Is the fabric one that will wick moisture away from the skin- such as cotton – and not an airtight fabric that will create moisture?
* Is the fabric or product washable (very important for infection control)?
* Does the product come with a gel insert?
* If preventing skin breakdown on the elder’s heel – does the product provide for an air cavity under the heel as if floating?
* If the elder is incontinent of urine or stool – choose an incontinent product that wicks away the moisture from the elder’s skin
An investment in pressure relieving products is an investment in pain prevention, saves time and money.
BY Virginia Garberding, R.N.
Director of Education, The Wilshire, Lincolnshire, Illinois
Author: Please Get To Know Me – Aging with Dignity and Relevance
www.pleasegettoknowme.com
HOW TO TAKE CARE OF THE ELDERLY PERSON’S SKIN THE WAY THE NURSING HOME NURSE WOULD-AND PREVENT WOUNDS | Eldercare Tips | Caregiver Tips
Forget yourself for others, and others will never forget you.
Nurses know:
* Preventing wounds is much easier than healing them
* An elderly person can develop a pressure wound in 2-6 hours of not changing position
* A pressure wound is painful
* Healing a pressure wound is costly
* Pressure wounds can develop anywhere there is a bone under the skin – elbows, heels, hips, buttocks and even the face if the elder has been lying in the same position for a very long time on their face
* Moisture makes the skin breakdown faster
* Chair positioning is as important as positioning an elder in bed – slouching in a chair can cause wounds on the spine and the elbow
* If the elder is sitting in a wheelchair for long periods of time, a well made cushion not only will provide better weight distribution, sitting balance and pressure redistribution but also provide a more stable surface for the elder to sit on and prevent the “sling-seat” so common in wheelchairs.
Things to look for in the products you choose:
* Is the fabric soft?
* Is the fabric one that will wick moisture away from the skin- such as cotton – and not an airtight fabric that will create moisture?
* Is the fabric or product washable (very important for infection control)?
* Does the product come with a gel insert?
* If preventing skin breakdown on the elder’s heel – does the product provide for an air cavity under the heel as if floating?
* If the elder is incontinent of urine or stool – choose an incontinent product that wicks away the moisture from the elder’s skin
An investment in pressure relieving products is an investment in pain prevention, saves time and money.
BY Virginia Garberding, R.N.
Director of Education, The Wilshire, Lincolnshire, Illinois
Author: Please Get To Know Me – Aging with Dignity and Relevance
www.pleasegettoknowme.com
HOW TO TAKE CARE OF THE ELDERLY PERSON’S SKIN THE WAY THE NURSING HOME NURSE WOULD-AND PREVENT WOUNDS | Eldercare Tips | Caregiver Tips
Forget yourself for others, and others will never forget you.
Friday, July 16, 2010
Results Announced for 3rd Annual Essay Competition on Elder Abuse (WEAAD) 2010
Elder abuse is an under-recognized problem with devastating and even life-threatening consequences. Elder abuse is often defined as a single, or repeated act, or lack of appropriate action, occurring within any relationship where there is an ‘expectation of trust’ which causes harm or distress to an older person.
World Elder Abuse Awareness Day 15th June ,programme aims to increase society's ability, through various programmes to recognize and respond to the mistreatment of older people in whatever setting it occurs, so that the latter years of life will be free from abuse, neglect and exploitation.
On the occasion of World Elder Abuse Awareness Day 2010, Silver Inning Foundation, a ‘Not for Profit’ dedicated organization for senior citizens and their family members commemorated Elder Abuse Day on 15th June’2010. It had taken the various initiatives to create awareness among civil society and Government to eliminate elder abuse at both micro and macro level.
In this regards SILVER INNING FOUNDATION had launched an Essay competition in following category and topics:
1) For all age group:
‘Elders Abuse - The Change Has to Start at Our Home’
2) For School Students - Class 5th to class 10th:
“My Grandparents - Our Golden Treasures”
3) For Students - 1st year College to Post graduation :
'No Excuse for Elder Abuse - Signs and Solutions'
Total 35 people participated
Winners:
1) For all age group: ‘Elders Abuse - The Change Has to Start at Our Home’
1st Best : Vasanthi Sankaranarayanan – Rs.500/- and Certificate
2nd Best : Dr Vineeth S - Participation Certificate
3rd Best : M. A. PUROHIT -Participation Certificate
1st Consolation: Pradnya Surve - Participation Certificate
2nd Consolation: Arundathi Kaikini - Participation Certificate
2) For School Students - Class 5th to class 10th: “My Grandparents - Our Golden Treasures”
1st Best: Manav Varma , 12 yrs - Rs.500/- and Certificate
3) For Students - 1st year College to Post graduation :'No Excuse for Elder Abuse - Signs and Solutions'
1st Best: Vishakha Gupta – 19 yrs , 2nd graduate student - Rs.500/- and Certificate
2nd Best : Achala Gupta , MSW - Participation Certificate
3rd Best : Yash Bharadwaj ,2nd Yr Law Student - Participation Certificate
Participation Certificate will be also given to:
1. Dr Vineeth S
2. M. A. PUROHIT
3. Pradnya Surve
4. Arundathi Kaikini
5. Achala Gupta
6. Yash Bharadwaj
7. Vanita Kumta
8. Mrs.Prerana D.Desai
9. Shinsy P S
10. Resy Antony
Prizes:
The First (1st) best in each category will be given Prize of Rs.500/- by Indian cheque only each within 15 days of result announced.
The Three (3) best essays in each category will be published on on Blogs: http://peopleforsocialcause.blogspot.com/ ; http://silverinnings.blogspot.com/ And best Ten (10) with India postal address will be given Participation Certificate within 15 days of result announced.
The Last date for submission of Essay was extended to 25h June 2010.
The winners were announced online by email after 16th July 2010.
Following were Terms and Condition:
• Essay should not be less than 2000 words
• Essay should only be in English language
• Essay should be sent by Email only (soft copy only)
• No hard copy will be accepted
• It’s open to all Indian Residence / POI / NRI
• People from other country can also participate, but they will not be part of competition.
This Programme was promoted by INPEA (International Network for Prevention of Elder Abuse) Indian Chapter through Development, Welfare and Research Foundation (DWARF) and 'Little Things Matter Initiatives' (LTMI) in association with Silver Inning Foundation.
Together, we all have the power to prevent elder abuse
My World… Your World…Our World…Free of Elder Abuse
Mining the golden years
Looking for the next big business idea? Try glancing in the mirror.
"Aging is the largest growing business in the world," says Jane Barratt, secretary-general of the Toronto-based International Federation on Ageing. "It's going to happen to all of us."
More immediately, it's going to happen to a lot of us at once, as baby boomers, those born between 1946 and 1965, start to turn 65, a demographic shift known as the "silver tsunami." In 2001, there were 3.9 million seniors in this country, according to Statistics Canada. By 2021, that number will swell to 6.7 million.
Add to that the fact that we're living longer than ever before, experts say, and what you get is a business opportunity no company can afford to ignore.
"There is absolutely no sector that isn't affected by this," Dr. Barratt says.
"The opportunity is huge," adds Peter Evans, an adviser to information technology companies at Toronto-based MaRS, an organization that helps science, technology and social entrepreneurs start and expand their businesses. He led a two-day conference in December called the Business of Aging that brought together government officials, academics and entrepreneurs.
A bulk of the business prospects exists around seniors wanting to stay in their homes. "We believe that a vast majority of people will not be institutionalized as they age," Mr. Evans says. "We have to affect massive shifts in the way we think about aging and place."
A recent survey conducted for Living Assistance Services, a non-medical provider of senior care, showed that 70 per cent of Canadians want to age in their own homes, a trend sometimes referred to as "age in place."
"When you think about what a house is going to look like that you can live in for the rest of your life, you start to see the opportunities," says Dr. Barratt, pointing to toilet seats that measure blood sugar levels and floors that measure a person's gait to assess whether they are steady on their feet.
Furniture and home design are key. "It affects everything from the height of the bed, automatic taps in the bathroom, how to get in and out of furniture," Dr. Barratt says. "In Japan, we already have kitchen cabinets that can go up and down to adjust for height."
Equally as important are technology advances in the home that will support independent living. Smart phones are being transformed from Web-browsing devices to tools that can measure vital signs and deliver that information to family and doctors. Sensor technology that will send alerts if a person with dementia wanders beyond certain boundaries is being developed. And we're already seeing communication tools that will more easily enable older people to stay in touch with family.
One such example is PointerWare, a software product that provides a simplified e-mail interface, Web browser and video conferencing. Partners Raul Rupsingh and Stephen Beath started the Toronto company in 2008.
"A lot of why we launched the company was personal," Mr. Rupsingh says. "We were looking at people like my parents. They're boomers. But I wouldn't start a business based on a personal problem."
The demographics speak for themselves, he says. "That's very important for a small business looking for opportunities."
Since launching, PointerWare has made deals with six of the top 10 retirement and nursing chains in Canada. PointerWare has also been approached by businesses in the United States that want to partner with them to bring their health-monitoring devices into the homes of seniors. "It's hard for these companies to connect with the user if they don't know how to use a computer."
Even companies that aren't developing new technologies are thinking about how to serve an older population. "We're going to see a real shift in language," Dr. Barratt says. "People at 60 are not going to want to be called old."
Companies may have to do away with automation, such as telephone systems, and instead reinstate a human touch. "Older people are saying speak slower, make the signs slightly larger," Dr. Barratt says. "People who want to gain business will be looking at this."
Completely new businesses will emerge as well. "Industries will be created to cater to this cohort," Dr. Barratt says. "Private businesses will be set up around providing formal care-giving. We'll see management consulting firms want to manage people's needs in the health-care system."
And it doesn't end there: "We have to think about things like, how do you unscrew water bottles? How do you get a CD out of its case?" Dr. Barratt notes. "All of these things will have to be redesigned so that people in later stages can deal with them."
Not to be forgotten is the government's role. "What we need is a collaboration of government, entrepreneurs and academics" Mr. Evans says. "There's an awareness that this is something that affects us all."
Community infrastructure will need to support a less mobile population. "Transportation needs to be easy," Dr. Barratt says. "Where will the shopping centres be in relation to the community-health centres?"
Standards across the country - from health care to building codes - may be harmonized. "If my mother lives in PEI, I want to know that she is getting the same standard of care as someone in Ontario," she says.
There's a compulsion, she adds, to look at this demographic shift in a negative way.
"By calling it a tsunami, we're suggesting it's a disaster," she says. There are undoubtedly challenges facing our health-care system, labour markets and even family caregivers. "But there are huge opportunities with this age-friendly society we need to build," Mr. Evans says.
A BURGEONING BOOM
Within the next 10 years, Canadians older than 65 will outnumber those younger than 15.
In 2010, an estimated 492,000 people worldwide will be older than 100. By 2050, that figure will reach 4,054,000. Within a generation, the number of Canadians with Alzheimer's disease or a related dementia will more than double and range between 1 million and 1.3 million people.
The technology product market for "aging in place" - staying at home instead of relocating to an assisted-living facility - in 2008 in the United States was estimated at $2-billion (U.S.). It is expected to grow to $20-billion by 2020.
By Rasha Mourtada
Source: Mining the golden years - The Globe and Mail
"Aging is the largest growing business in the world," says Jane Barratt, secretary-general of the Toronto-based International Federation on Ageing. "It's going to happen to all of us."
More immediately, it's going to happen to a lot of us at once, as baby boomers, those born between 1946 and 1965, start to turn 65, a demographic shift known as the "silver tsunami." In 2001, there were 3.9 million seniors in this country, according to Statistics Canada. By 2021, that number will swell to 6.7 million.
Add to that the fact that we're living longer than ever before, experts say, and what you get is a business opportunity no company can afford to ignore.
"There is absolutely no sector that isn't affected by this," Dr. Barratt says.
"The opportunity is huge," adds Peter Evans, an adviser to information technology companies at Toronto-based MaRS, an organization that helps science, technology and social entrepreneurs start and expand their businesses. He led a two-day conference in December called the Business of Aging that brought together government officials, academics and entrepreneurs.
A bulk of the business prospects exists around seniors wanting to stay in their homes. "We believe that a vast majority of people will not be institutionalized as they age," Mr. Evans says. "We have to affect massive shifts in the way we think about aging and place."
A recent survey conducted for Living Assistance Services, a non-medical provider of senior care, showed that 70 per cent of Canadians want to age in their own homes, a trend sometimes referred to as "age in place."
"When you think about what a house is going to look like that you can live in for the rest of your life, you start to see the opportunities," says Dr. Barratt, pointing to toilet seats that measure blood sugar levels and floors that measure a person's gait to assess whether they are steady on their feet.
Furniture and home design are key. "It affects everything from the height of the bed, automatic taps in the bathroom, how to get in and out of furniture," Dr. Barratt says. "In Japan, we already have kitchen cabinets that can go up and down to adjust for height."
Equally as important are technology advances in the home that will support independent living. Smart phones are being transformed from Web-browsing devices to tools that can measure vital signs and deliver that information to family and doctors. Sensor technology that will send alerts if a person with dementia wanders beyond certain boundaries is being developed. And we're already seeing communication tools that will more easily enable older people to stay in touch with family.
One such example is PointerWare, a software product that provides a simplified e-mail interface, Web browser and video conferencing. Partners Raul Rupsingh and Stephen Beath started the Toronto company in 2008.
"A lot of why we launched the company was personal," Mr. Rupsingh says. "We were looking at people like my parents. They're boomers. But I wouldn't start a business based on a personal problem."
The demographics speak for themselves, he says. "That's very important for a small business looking for opportunities."
Since launching, PointerWare has made deals with six of the top 10 retirement and nursing chains in Canada. PointerWare has also been approached by businesses in the United States that want to partner with them to bring their health-monitoring devices into the homes of seniors. "It's hard for these companies to connect with the user if they don't know how to use a computer."
Even companies that aren't developing new technologies are thinking about how to serve an older population. "We're going to see a real shift in language," Dr. Barratt says. "People at 60 are not going to want to be called old."
Companies may have to do away with automation, such as telephone systems, and instead reinstate a human touch. "Older people are saying speak slower, make the signs slightly larger," Dr. Barratt says. "People who want to gain business will be looking at this."
Completely new businesses will emerge as well. "Industries will be created to cater to this cohort," Dr. Barratt says. "Private businesses will be set up around providing formal care-giving. We'll see management consulting firms want to manage people's needs in the health-care system."
And it doesn't end there: "We have to think about things like, how do you unscrew water bottles? How do you get a CD out of its case?" Dr. Barratt notes. "All of these things will have to be redesigned so that people in later stages can deal with them."
Not to be forgotten is the government's role. "What we need is a collaboration of government, entrepreneurs and academics" Mr. Evans says. "There's an awareness that this is something that affects us all."
Community infrastructure will need to support a less mobile population. "Transportation needs to be easy," Dr. Barratt says. "Where will the shopping centres be in relation to the community-health centres?"
Standards across the country - from health care to building codes - may be harmonized. "If my mother lives in PEI, I want to know that she is getting the same standard of care as someone in Ontario," she says.
There's a compulsion, she adds, to look at this demographic shift in a negative way.
"By calling it a tsunami, we're suggesting it's a disaster," she says. There are undoubtedly challenges facing our health-care system, labour markets and even family caregivers. "But there are huge opportunities with this age-friendly society we need to build," Mr. Evans says.
A BURGEONING BOOM
Within the next 10 years, Canadians older than 65 will outnumber those younger than 15.
In 2010, an estimated 492,000 people worldwide will be older than 100. By 2050, that figure will reach 4,054,000. Within a generation, the number of Canadians with Alzheimer's disease or a related dementia will more than double and range between 1 million and 1.3 million people.
The technology product market for "aging in place" - staying at home instead of relocating to an assisted-living facility - in 2008 in the United States was estimated at $2-billion (U.S.). It is expected to grow to $20-billion by 2020.
By Rasha Mourtada
Source: Mining the golden years - The Globe and Mail
Thursday, July 15, 2010
Activities for the Person with Alzheimer's - Video
Examples of some simple activities that can help fill the day of a person with Alzheimer's.
Video summary
We can't change the diagnosis of dementia, but we can affect the quality of people's lives by involving them in activities that help them feel safe, emotionally secure and that enhance their dignity and self-esteem. Some activities are intended to provide purpose and meaning; others are purely for fun. The range of possibilities shown in these video excerpts included:
* Music and dance – which can work when other things fail
* Exercise, such as walking and swimming (More and more we are learning that physical exercise has mental and emotional benefits, too. Plus it helps us sleep better.)
* Familiar tasks such as gardening, washing dishes or other housework
* Mind-stimulating games such as trivia quizzes or
* Scrabble
* Have a conversation – Ask, "What do you think about . . ." especially when props are involved (flowers, hats) and you may be surprised at the answers.
* Go on an outing. We all need breaks in our routines.
People who aren't positively stimulated may become bored, restless, anxious or depressed. On the other hand, too much stimulation can have ill effects, too. We all need quiet time. What activities bring pleasure is highly individualized, but everyone enjoys the satisfying relationships that come from interaction.
Applying the video to your own situation
* This video emphasizes the importance of fun. Fun fuels the brain. One advantage you have over professional caregivers is that you know your loved one well. Think about activities you can do together that are likely to be pleasurable, relaxing and fun. If he can't do all parts of the activity, think about his remaining strengths and the parts he can still do. If your first idea doesn't work, try another.
* Think about the activities that seem to bring comfort and help your loved one feel emotionally secure, and add those to your daily routine. For example, some people who can no longer read the fine print in a newspaper still enjoy going through the motions of reading it.
* Exercise draws oxygen to our brains thereby helping us think more clearly, and getting outdoors is a mood lifter. A daily walk can provide both benefits, but don't rule out other forms of exercise you might enjoy, too.
* Because we all like to feel useful, many people continue to enjoy familiar tasks such as housework or gardening. Think about the tasks your loved one might do that don't need to be done perfectly.
* Many mind-stimulating games need to be adapted for people with dementia. You can find some suggestions by Kathy Laurenhue at http://www.wisernow.com/PDF/Alzheimer's%20Adaptations.pdf
* Novelty is also fun. Consider what outings you might take together.
See the video: http://www.videocaregiving.org/beyond-video/Alzheimers-Activities.php
Adapted from: Dementia With Dignity; Eastway Communication & Media One Pty, Sydney, Australia
Think about the activities that seem to bring comfort and help your loved one feel emotionally secure, and add those to your daily routine.
Video summary
We can't change the diagnosis of dementia, but we can affect the quality of people's lives by involving them in activities that help them feel safe, emotionally secure and that enhance their dignity and self-esteem. Some activities are intended to provide purpose and meaning; others are purely for fun. The range of possibilities shown in these video excerpts included:
* Music and dance – which can work when other things fail
* Exercise, such as walking and swimming (More and more we are learning that physical exercise has mental and emotional benefits, too. Plus it helps us sleep better.)
* Familiar tasks such as gardening, washing dishes or other housework
* Mind-stimulating games such as trivia quizzes or
* Scrabble
* Have a conversation – Ask, "What do you think about . . ." especially when props are involved (flowers, hats) and you may be surprised at the answers.
* Go on an outing. We all need breaks in our routines.
People who aren't positively stimulated may become bored, restless, anxious or depressed. On the other hand, too much stimulation can have ill effects, too. We all need quiet time. What activities bring pleasure is highly individualized, but everyone enjoys the satisfying relationships that come from interaction.
Applying the video to your own situation
* This video emphasizes the importance of fun. Fun fuels the brain. One advantage you have over professional caregivers is that you know your loved one well. Think about activities you can do together that are likely to be pleasurable, relaxing and fun. If he can't do all parts of the activity, think about his remaining strengths and the parts he can still do. If your first idea doesn't work, try another.
* Think about the activities that seem to bring comfort and help your loved one feel emotionally secure, and add those to your daily routine. For example, some people who can no longer read the fine print in a newspaper still enjoy going through the motions of reading it.
* Exercise draws oxygen to our brains thereby helping us think more clearly, and getting outdoors is a mood lifter. A daily walk can provide both benefits, but don't rule out other forms of exercise you might enjoy, too.
* Because we all like to feel useful, many people continue to enjoy familiar tasks such as housework or gardening. Think about the tasks your loved one might do that don't need to be done perfectly.
* Many mind-stimulating games need to be adapted for people with dementia. You can find some suggestions by Kathy Laurenhue at http://www.wisernow.com/PDF/Alzheimer's%20Adaptations.pdf
* Novelty is also fun. Consider what outings you might take together.
See the video: http://www.videocaregiving.org/beyond-video/Alzheimers-Activities.php
Adapted from: Dementia With Dignity; Eastway Communication & Media One Pty, Sydney, Australia
Think about the activities that seem to bring comfort and help your loved one feel emotionally secure, and add those to your daily routine.
Sunday, July 11, 2010
The silver innings - OLD IS GOLD
Integrated senior-citizen townships are offering tailor-made and hassle-free living for retired Indians, says Sushmita Biswas.
Every morning, 72-year-old Mani Bharucha likes to go for a walk with her friends. A single woman, she’s chosen to live 90km away from the hustle and bustle of busy Mumbai life at the Dignity Lifestyle (set up by Dignity Foundation) Retirement Township in Neral near the hill-station Matheran. After the walk she tends the plants in the small garden attached to her cottage. She particularly loves the monsoons in the hills when the landscape turns a verdant green. “The quality of life is much better and there are absolutely no restrictions on our lifestyle,” she gushes.
Bharucha is among the growing number of senior citizens who are opting to stay in senior-citizen townships coming up in different corners of the country. And no, these are not old age homes but integrated townships for people aged 55 years and above, where the key selling point is senior living.
The living conditions are specially tailored for older folks with ultra-spacious, wheel-chair friendly rooms with anti-skid flooring and touchscreen systems. In addition, there are multi-cuisine restaurants, libraries, club houses, golf courses, wellness centres and spas. Of course, there’s geriatric care at hand and trained staff for housekeeping.
So you can perk up with a brisk walk, or enjoy an Ayurvedic massage, sweat it out at the fitness centre or engage in community development projects.
Who are the target buyers? Anybody who is looking at retirement (young retirees 55 years onwards) or the already retired or those who need assisted living can choose to stay in these homes.
Perhaps, it’s little wonder that the elderly parents of NRIs, retired bureaucrats, bankers and businessmen are increasingly finding their space in the protected environment of a retirement home.
“Senior-living homes have immense potential. Though it’s a western concept, and still in its infancy in India, developers need to take it to the next level complete with ultra-modern and hassle-free facilities,” says Saumyajit Roy, assistant vice president, Jones Lang LaSalle Meghraj,
According to a recent report by Jones Lang LaSalle Meghraj (JLLM), in India there are over 81 million elderly people. The figure will rise to 177 million by 2025 and by 2050 it will be about 240 million. Adds Roy: “After you retire from the frenetic pace of life, there’s no need to feel left out. Retirement townships are increasingly being favoured by elderly people whose children settle in different parts of the country or abroad and cannot visit them too often.”
Here’s looking at some of the places where the elderly can retire to.
Some Retirement township in India:
RENAISSANCE,West Bengal
VIVARA RESIDENCES,Goa
DIGNITY LIFESTYLE RETIREMENT TOWNSHIP,Maharashtra
UTSAV,Rajasthan
MELUR MEADOWS,Chennai
RAKINDO,Coimbatore
Read in detail: The Telegraph - Calcutta (Kolkata) | The Personal Telegraph | The silver innings
Helpline As Lifeline For The Elderly
Shipra Mukherjee was the perfect homemaker. She loved playing host to her family of four sons, daughters-in-law and two grandchildren. But she is 72 now and finds the task extremely daunting.
"My sons stay away from home with their families, but they all descend here during vacations, taking it for granted that I will tend to them as always. It’s as though they have no realisation how age has taken its toll. None of my daughters-in-law lift a hand to help me around the house," she says.
Exhaustion
Shipra tolerates the exhaustion because the visits by her children alleviate the loneliness that marks her life and that of her 76-year-old husband, Subhankar, for the rest of the year. Subhankar has hypertension and diabetes and Shipra is his sole caregiver.
Subhankar’s pension is sufficient for the couple’s day-to-day expenses, but they cannot afford full-time domestic help or a medical care-giver.
"My children turn a blind eye to our old age handicaps. Their attitude is that we have our own home, a pension, so what else is required. The increasing cost of living, rising medical expenses, the shrinking rate of interest for bank deposits where we have parked our retirement funds, the tough job of home maintenance, and so on, do not seem to concern them at all," rues Shipra.
For an alarming number of India’s 91 million population who are 60 Plus, neglect, loneliness, mental and physical abuse, depression and lack of proper medical care, are turning the dusk of their life into a living nightmare. As women generally have longer life spans than men, they account for slightly more than half of the older population and represent nearly two-thirds of the population who are over 85.
There has been a steep rise in suicides by the elderly in India as depression, disease and the lack of care induces a sense of helplessness. The situation is several times worse for those who are not financially secure. Adding to feelings of insecurity is the rising incidents of crime against the elderly. Their isolated lifestyles make them sitting ducks for anti-social elements.
In such a scenario, helplines for the elderly - Pronam: 033-24190740/Dignity Foundation: 033-30690999 - have emerged as a lifeline. Often they are the only support senior citizens have in teeming metropolises like Kolkata.
"They provide comfort and give us the chance to mingle with those of our own age. The helplines also conduct financial and psychological counselling, guide us to lead a secure and safe existence and provide us with access to medical care," says Subha Haldar, 66, a widow living alone in South Kolkata.
Over 6 per cent of India’s poor comprise older people. Health care, shelter, food, psychological counselling and affordable insurance are important measures of support for this group.
The Dignity Foundation, which runs a helpline for the elderly in cities like Mumbai, Pune, Bangalore, Ahmedabad and Chennai, has 15,000 registered members in Kolkata alone. But this is just the tip of the iceberg, according to Abhijit Ghosh, General Manager, Dignity Foundation. There are over 5,00,000 elderly in the city and most of them are living alone.
Their children often move abroad or to other cities in search of work. Many of the elderly have lost their spouses. The circle of friends and relatives also become smaller as disease and death take their toll, says Ghosh.
For Parvin Sherif, an elderly woman living in South Kolkata, the routine ‘chai adda’ sessions at Dignity are an opportunity to share a cup of tea and snacks with others of her age, sing songs, exchange gossip, play games and share problems.
"The whole experience is cathartic and prevents us from slipping into depression caused by loneliness," says Sherif. The Dignity Foundation currently holds ‘adda’ sessions for senior citizens at three centres in Kolkata but hopes to gradually extend the venture to every locality in the city.
Debolina Shah, who is also over 60, points out that the elderly often withdraw into a shell and suffer in silence when faced with neglect at home. "The women suffer more as in most cases they are financially dependent on their partners or children. They are sometimes physically and mentally abused and made to work as servants despite their advancing age," she says.
Under these circumstances, the best thing to do is to smile and join a support group through helplines. "By becoming part of a group outside the home, the elderly find a healthy and safe outlet for their need to socialise and express themselves," say Ranjana Roy, 60, who has just signed up as a new member at one of Dignity Foundation’s Kolkata centres.
The physical and emotional abuse of the elderly has been of growing concern for the NGOs working in this sector. Pronam, a group providing security and safety to the senior citizens in collaboration with Kolkata Police, has 1,453 registered members, among whom 681 stay alone.
Pronam gives its members access to medical care and has ties with 31 hospitals. The NGO also has contacts with 48 police stations to reach immediate security to those who call in for such security. Often it is protection from their own relatives, according to Shukla Tarafdar, Administrator, Pronam.
Property disputes and financial concerns are the main causes for elders’ abuse, with younger members of the family perceiving them as burdens. The helplines promise senior citizens seeking help absolute confidentiality and carry out social interventions to solve their problem, according to Ghosh. A survey conducted by Silver Innings Foundation and Society for Serving Seniors - Silver Innings Foundation is a Mumbai-based initiative for the elderly - in March this year lists fast track courts, old-age pension, a separate medicare policy, and a national level helpline as the top requirements for the elderly.
Lack of company is another great problem. "Besides intervention by NGOs, a community-level commitment to help the elderly couple or the single old man or woman living in the locality is necessary, to make them feel part of society and cared for," observes Manjushree Basu, 63.
Manjushree lives with her 67-year-old husband, Pralay, who suffers from chronic arthritis. Their only son lives abroad and visits just once a year. The couple could really do with some help to go to the doctor, visit a library or do some shopping.
Another childhood
"It’s often thought that money can solve problems. But for the elderly, money is just one of the problems. Even if there is money, without help and support we cannot live. Old age is like another childhood, where a caregiver is a must," says Pralay.
According to projections, India will have an elderly population of 179 million by 2031 and 301 million by 2051, with 51 per cent of them women. With the decline of traditional support structures, like joint families, the country urgently needs to ensure that the rights of this neglected section are protected, and their needs addressed.
By Ajitha Menon
Source: Gorkhapatra
"My sons stay away from home with their families, but they all descend here during vacations, taking it for granted that I will tend to them as always. It’s as though they have no realisation how age has taken its toll. None of my daughters-in-law lift a hand to help me around the house," she says.
Exhaustion
Shipra tolerates the exhaustion because the visits by her children alleviate the loneliness that marks her life and that of her 76-year-old husband, Subhankar, for the rest of the year. Subhankar has hypertension and diabetes and Shipra is his sole caregiver.
Subhankar’s pension is sufficient for the couple’s day-to-day expenses, but they cannot afford full-time domestic help or a medical care-giver.
"My children turn a blind eye to our old age handicaps. Their attitude is that we have our own home, a pension, so what else is required. The increasing cost of living, rising medical expenses, the shrinking rate of interest for bank deposits where we have parked our retirement funds, the tough job of home maintenance, and so on, do not seem to concern them at all," rues Shipra.
For an alarming number of India’s 91 million population who are 60 Plus, neglect, loneliness, mental and physical abuse, depression and lack of proper medical care, are turning the dusk of their life into a living nightmare. As women generally have longer life spans than men, they account for slightly more than half of the older population and represent nearly two-thirds of the population who are over 85.
There has been a steep rise in suicides by the elderly in India as depression, disease and the lack of care induces a sense of helplessness. The situation is several times worse for those who are not financially secure. Adding to feelings of insecurity is the rising incidents of crime against the elderly. Their isolated lifestyles make them sitting ducks for anti-social elements.
In such a scenario, helplines for the elderly - Pronam: 033-24190740/Dignity Foundation: 033-30690999 - have emerged as a lifeline. Often they are the only support senior citizens have in teeming metropolises like Kolkata.
"They provide comfort and give us the chance to mingle with those of our own age. The helplines also conduct financial and psychological counselling, guide us to lead a secure and safe existence and provide us with access to medical care," says Subha Haldar, 66, a widow living alone in South Kolkata.
Over 6 per cent of India’s poor comprise older people. Health care, shelter, food, psychological counselling and affordable insurance are important measures of support for this group.
The Dignity Foundation, which runs a helpline for the elderly in cities like Mumbai, Pune, Bangalore, Ahmedabad and Chennai, has 15,000 registered members in Kolkata alone. But this is just the tip of the iceberg, according to Abhijit Ghosh, General Manager, Dignity Foundation. There are over 5,00,000 elderly in the city and most of them are living alone.
Their children often move abroad or to other cities in search of work. Many of the elderly have lost their spouses. The circle of friends and relatives also become smaller as disease and death take their toll, says Ghosh.
For Parvin Sherif, an elderly woman living in South Kolkata, the routine ‘chai adda’ sessions at Dignity are an opportunity to share a cup of tea and snacks with others of her age, sing songs, exchange gossip, play games and share problems.
"The whole experience is cathartic and prevents us from slipping into depression caused by loneliness," says Sherif. The Dignity Foundation currently holds ‘adda’ sessions for senior citizens at three centres in Kolkata but hopes to gradually extend the venture to every locality in the city.
Debolina Shah, who is also over 60, points out that the elderly often withdraw into a shell and suffer in silence when faced with neglect at home. "The women suffer more as in most cases they are financially dependent on their partners or children. They are sometimes physically and mentally abused and made to work as servants despite their advancing age," she says.
Under these circumstances, the best thing to do is to smile and join a support group through helplines. "By becoming part of a group outside the home, the elderly find a healthy and safe outlet for their need to socialise and express themselves," say Ranjana Roy, 60, who has just signed up as a new member at one of Dignity Foundation’s Kolkata centres.
The physical and emotional abuse of the elderly has been of growing concern for the NGOs working in this sector. Pronam, a group providing security and safety to the senior citizens in collaboration with Kolkata Police, has 1,453 registered members, among whom 681 stay alone.
Pronam gives its members access to medical care and has ties with 31 hospitals. The NGO also has contacts with 48 police stations to reach immediate security to those who call in for such security. Often it is protection from their own relatives, according to Shukla Tarafdar, Administrator, Pronam.
Property disputes and financial concerns are the main causes for elders’ abuse, with younger members of the family perceiving them as burdens. The helplines promise senior citizens seeking help absolute confidentiality and carry out social interventions to solve their problem, according to Ghosh. A survey conducted by Silver Innings Foundation and Society for Serving Seniors - Silver Innings Foundation is a Mumbai-based initiative for the elderly - in March this year lists fast track courts, old-age pension, a separate medicare policy, and a national level helpline as the top requirements for the elderly.
Lack of company is another great problem. "Besides intervention by NGOs, a community-level commitment to help the elderly couple or the single old man or woman living in the locality is necessary, to make them feel part of society and cared for," observes Manjushree Basu, 63.
Manjushree lives with her 67-year-old husband, Pralay, who suffers from chronic arthritis. Their only son lives abroad and visits just once a year. The couple could really do with some help to go to the doctor, visit a library or do some shopping.
Another childhood
"It’s often thought that money can solve problems. But for the elderly, money is just one of the problems. Even if there is money, without help and support we cannot live. Old age is like another childhood, where a caregiver is a must," says Pralay.
According to projections, India will have an elderly population of 179 million by 2031 and 301 million by 2051, with 51 per cent of them women. With the decline of traditional support structures, like joint families, the country urgently needs to ensure that the rights of this neglected section are protected, and their needs addressed.
By Ajitha Menon
Source: Gorkhapatra
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