SkillsFuture Credit
Quick Links
- What is SkillsFuture Credit
- SkillsFuture Credit Top Up
- SkillsFuture Credit Expiry
- SkillsFuture Credit Top up & Expiry Summary
- SkillsFuture Funding & Subsidy
- SkillsFuture Funding Adjustment
- SkillsFuture Credit Courses
What is SkillsFuture Credit
SkillsFuture Credit consists of credits which Singapore Citizens can use to pay for out-of-pocket course fees for attending work-skills related courses. The credits can be used on top of existing course fee subsidies provided by the Government.
SkillsFuture Credit Top Up
Opening SkillsFuture Credit of $500
All Singapore Citizens aged 25 and above in 2016 received an opening credit of S$500. Singapore Citizens who are below 25 years old in 2016 will similarly receive $500 worth of credits in the year that they turn 25 years old.
SkillsFuture Credit Top Up 2020
A SkillsFuture Credit Top Up will be made in year 2020 as announced in Budget 2020. A one-off SkillsFuture Credit top up of $500 will be provided to every Singapore Citizen aged 25 years and above as at 31 December 2020. This top up is on top of the Opening SkillsFuture Credits, and can be used for SkillsFuture courses from 1 October 2020.
Additional SkillsFuture Credit Top Up for 40 to 60
A one-off SkillsFuture Credit of $500 will be provided to every Singapore Citizen aged 40 to 60 (inclusive) as at 31 December 2020. This will be on top of the SkillsFuture Credit top up for Singapore Citizens aged 25 and above.
Eligible individuals can start using the SkillsFuture Credit provided under this package from 1 October 2020, on about 200 career transition programmes offered by the Continuing Education and Training (CET) Centres.
SkillsFuture Credit Expiry
SkillsFuture Credit expiry varies for the different top up tranches. The Opening SkillsFuture Credits does not have an expiry date. However, the SkillsFuture Credit top up 2020 and the Additional SkillsFuture Credit top up for 40 to 60 will expire in five years (by end of year 2025).
SkillsFuture Credit Top Up & Expiry Summary
| SkillsFuture Eligibility | Amount | Available for Use | Expiry |
|---|---|---|---|
| Singapore Citizens aged 25 and above | $500 | Upon credit, in the year you turn 25 years old | No Expiry |
| Singapore Citizens aged 25 years and above as at 31 December 2020 | $500 | 1 October 2020 | Expires end 2025 |
| Singapore Citizens aged 40 to 60 (inclusive) as at 31 December 2020 | $500 | 1 October 2020, on about 200 career transition programmes | Expires end 2025 |
See more on How to check SkillsFuture Credit balance.
SkillsFuture Funding & Subsidy
To ensure course fees remain affordable, SkillsFuture Singapore (SSG) provides course fee subsidy for Singapore Citizens and Singapore Permanent Residents (PR) on SkillsFuture approved courses. This will be applicable to both self-sponsored and company-sponsored applicants. Individuals can offset the remaining course fees using their SkillsFuture Credit.
Eligible individuals can further benefit from other SSG’s subsidies up to 90% via SkillsFuture Mid-Career Enhanced Subsidy (MCES).
SkillsFuture Training Subsidy (On or after 1 Jan 2022)
| Courses offered by SSG-appointed CET Centres | Courses starting on or after 1 Jan 2022 |
|---|---|
| Singapore Citizens (SCs) and Permanent Residents (PRs) | Up to 70% of course fees |
| SCs aged >= 40 years old (Mid-Career Enhanced Subsidy) | Up to 90% of course fees |
| Certifiable Courses approved by SSG | Courses starting on or after 1 Jan 2022 |
| Singapore Citizens (SCs) and Permanent Residents (PRs) | Up to 50% of course fees |
| SCs aged >= 40 years old (Mid-Career Enhanced Subsidy) | Up to 70% of course fees |
Example of a SkillsFuture approved, Non-PMET course with GST
| Full Course Fee | Sporeans 21 – 39 yrs old / PRs 21 yrs old & above | Sporeans 40 yrs old & above (MCES) |
|---|---|---|
| $401.25$375.00 before GST | $213.75$187.50 after 50% subsidy, plus $26.25 GST Payable using SkillsFuture Credit | $138.75$112.50 after 70% subsidy, plus $26.25 GST Payable using SkillsFuture Credit |
Revisions to SkillsFuture Course Fee Funding
SSG will revise the SkillsFuture course fee funding. These revisions will be applicable to SSG-funded courses commencing on or after 1 January 2022, as follows:
- Baseline course fee subsidies will be simplified and streamlined across PMET and non-PMET courses. Courses offered by SSG-appointed Continuing Education and Training (CET) centres will receive course fee subsidies of up to 70%, and certifiable courses approved by SSG will receive course fee subsidies of up to 50%.
- Enterprises and individuals who qualify for SSG’s enhanced subsidy schemes: SkillsFuture Mid-Career Enhanced Subsidy (MCES) and Enhanced Training Support for SMEs, will receive an enhanced subsidy of up to 20 percentage points above the baseline course fee subsidies, i.e. up to 90%.
SkillsFuture Credit Courses
SkillsFuture Credit can be used on top of existing government course subsidies to pay for a wide range of approved skills-related courses:
- Courses subsidised or approved by SkillsFuture Singapore (SSG) including online courses
- Selected courses offered by Ministry of Education (MOE)-funded institutions
- Courses supported by public agencies
- SkillsFuture@PA courses offered by the People’s Association
- Courses offered by the Infocommunications Media Development Authority of Singapore (IMDA)’s Silver Infocomm Junctions
- Selected courses under National Silver Academy
Questions on SkillsFuture Credit?
If you have any enquiries on SkillsFuture Credit and which courses are suitable for you, feel free to enquire.
