DEFINITION of 'Fureai Kippu'
A complementary currency system for providing elder care in Japan. The system of fureai kippu, or "caring relationship tickets," allows individuals to earn credits by caring for a local elderly or handicapped person. They can redeem those credits toward care for a non-local elderly person, such as a parent who lives far away or themselves if they get sick. The tickets can also be saved and redeemed in the future.
BREAKING DOWN 'Fureai Kippu'
Fureai kippu are an example of a time-dollar system. Such systems solve social problems outside of the traditional economy and can be especially helpful to people who don't have much money and/or can't participate in the traditional workforce. Also, in countries where the government provides significant levels of social services through its authority to tax, time dollar systems can theoretically reduce the tax burden.