What is SkillsFuture Credit?
SkillsFuture Credit consists of credits that Singapore Citizens can use to pay 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.
Opening SkillsFuture Credit of $500
All Singapore Citizens aged 25 and above in 2016 received an opening credit of S$500. Singapore Citizens who were 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 the 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 of 31 December 2020. This top-up is on top of the Opening SkillsFuture Credits and can be used for SkillsFuture courses starting on 1 October 2020.
Additional SkillsFuture Credit Top Up for those aged 40 to 60 years old
A one-off SkillsFuture Credit of $500 will be provided to every Singapore Citizen aged 40 to 60 (inclusive) as of 31 December 2020. This will be on top of the SkillsFuture Credit Top Up for Singapore Citizens aged 25 and above.
Starting 1 October 2020, eligible individuals can use the SkillsFuture Credit on about 200 career transition programmes offered by the Continuing Education and Training (CET) Centres.
SkillsFuture Credit expiry varies for the different top-up tranches. The Opening SkillsFuture Credits do not have an expiry date. However, the SkillsFuture Credit Top Up 2020 and the Additional SkillsFuture Credit Top Up for Singaporeans aged 40 to 60 will expire in five years (by end of the 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 of 31 December 2020||$500||1 October 2020||Expires end of 2025|
|Singapore Citizens aged 40 to 60 (inclusive) as of 31 December 2020||$500||1 October 2020, on about 200 career transition programmes||Expires end of 2025|
To ensure course fees remain affordable, SkillsFuture Singapore (SSG) provides a course fee subsidy for Singapore Citizens and Singapore Permanent Residents (PR) on SkillsFuture approved courses. This is 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 SSG’s other subsidies up to 90% via the SkillsFuture Mid-Career Enhanced Subsidy (MCES).
SkillsFuture Training Subsidy
|Type of Course||Course Level||Singaporeans 21 – 39 yrs old / PRs 21 yrs old & above||Singaporeans 40 yrs old & above (MCES)|
|Courses offered by SSG-appointed CET Centres||Non-PMET||Up to 90% of course fees before GST||Up to 90% of course fees before GST|
|PMET||Up to 70% of course fees|
|Certifiable Courses approved by SSG
* Self-sponsored individuals must be ≥ 21 years old
|Non-PMET||80% of course fees before GST, capped at $17 per hour||90% of course fees before GST, capped at $25 per hour|
|PMET||50% of course fees before GST, capped at $15 per hour||90% of course fees before GST, capped at $50 per hour|
Example of a SkillsFuture approved, Non-PMET course with GST
|Full Course Fee||Singaporeans 21 – 39 yrs old / PRs 21 yrs old & above||Singaporeans 40 yrs old & above (MCES)|
$375.00 before GST
$75.00 after 80% subsidy, plus $26.25 GST
Payable using SkillsFuture Credit
$37.50 after 90% subsidy, plus $26.25 GST
Payable using SkillsFuture Credit
SkillsFuture Credit can be used on top of existing government course subsidies to pay for a wide range of approved skills-related courses: