SINGAPORE: Since October 2020, about 690,000 Singaporeans, or 26 per cent of those eligible, have used the one-off S$500 SkillsFuture Credit (SFC) top-up.
This figure was revealed by SkillsFuture Singapore (SSG) on Dec 3, according to The Straits Times.
The one-off S$500 credit top-up, introduced to support the training and development of Singaporeans aged 25 and above, is set to expire on Dec 31 2025.
The top-up has been used most by those aged 40 to 49, with 31 per cent of this group tapping into it. Among those aged 60 and above, only 21 per cent have used the credit. For individuals aged 25 to 29, 30 to 39, and 50 to 59, the participation rate was roughly 30 per cent.
This one-off credit differs from the S$500 SkillsFuture Credit given to Singaporeans when they turn 25.
In addition, those aged 40 to 60 as of Dec 31, 2020, received an extra S$500 in mid-career support credits. These credits do not expire.
On May 1, 2024, another S$4,000 mid-career credit was added for Singaporeans aged 40 and above, which can be combined with any remaining balance from earlier credits.
SSG reported that the most popular training areas funded by these credits are information and communications, food and beverage, and security and investigation.
Due to pressure from marketing agents, the agency advised learners to have clear goals when choosing courses instead of signing up.
It also reminded the public that training providers are prohibited from offering cash or incentives to encourage enrolment in SSG-funded or supported courses, as this violates the agency’s terms and conditions.
SSG encouraged the public to report such practices through its feedback portal at www.skillsfuture.gov.sg/feedback to address these issues and protect the public interest.
In November, SSG announced a three-month suspension for training provider FirstCom Academy for its marketing referral programme. The company, which offers courses in digital marketing to people management, will be suspended from Jan 1 to March 31, 2025.
During this period, its courses will not be eligible for government subsidies or SkillsFuture Credit use.
In 2023, about 520,000 individuals participated in SSG-supported training, a drop from 560,000 in 2022. Despite this drop, more employers sponsored their employees for training.
According to the agency, about 23,000 companies sent 228,000 employees for training in 2023, compared to 20,000 companies and 168,000 employees in 2022.
Among the participants, around 200,000 were mid-career workers, marking a 28 per cent increase from 2022.
Currently, 7,000 courses qualify for mid-career SkillsFuture Credit. These range from Higher Nitec and postgraduate programmes to Ministry of Education-subsidised qualifications offered by the University of the Arts Singapore and arts institutions.
Eligible courses are tagged with “SkillsFuture Credit (Mid-Career)” under the Keyword Tags section on the course overview page.
SSG noted that these courses are available to help learners develop emerging skills, deepen expertise in their field, or transition to new economic growth sectors.
Eligible courses are available on the MySkillsFuture Portal. SSG stated that more details about these courses will be included in the agency’s Skills Demand for the Future Economy report, due for release in January 2025.
The agency also noted that Singaporeans seeking further career and skills advice can join sectoral workshops or book one-on-one sessions with Skills Ambassadors. /TISG
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