The media reported recently that the government of Nepal is going to implement a new law that will make it compulsory for children to deposit five to ten per cent of their incomes to the accounts of their elderly parents. The parents should be over the age of 60 years. The money being deposited will ensure that the parents can live comfortably. If any child fails to deposit, he will be penalised. The penalised amount will be transferred to the accounts of his parent.
I think that this is a great step. Bangladesh should follow and take similar measures.
Most elderly parents in Bangladesh face financial hardships after retirement. They become dependent on their children who are earning. But often the children neglect them. Some drive out their parents forcing them to live and beg on the streets. Sometimes parents are also sent to, or they themselves choose to live in, old homes. Away from the pleasant company of their sons and daughters, grandchildren, they lead a rather lonely life in the old homes.
It is time that our government made such a law and implemented it. As people will deposit five to 10 per cent of their income to the accounts of their parents, the activity should be monitored properly. Proper monitoring can ensure that the parents are receiving the money. The parents should be allowed to spend the money in any way they wish.
When people have money, they feel empowered. Elderly people will thus be financially empowered. After all, they have spent a good part of their adult lives working hard to make the lives of their children better.
Md. Alamgir Hossain
Kaigari, Bogra
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