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Up To $1,000 In Credits From 1 October 2020: Understanding The Next Bound Of SkillsFuture And How You Can Spend It

Not all SkillsFuture credits are the same.

SkillsFuture is the umbrella movement to support Singaporeans in their journey of lifelong learning and professional development. Among other things, the SkillsFuture framework provides an integrated eco-system of high-quality, relevant, and industry-recognised educational and training programmes, regardless of your age or stage of career.

To further encourage Singaporeans to take on these training programmes, there are a variety of credits, grants, and even scholarships available. Come 1 October 2020, all Singaporeans above the age of 25 will receive a top-up of between $500 to $1,000 under the Next Bound of SkillsFuture.

Here’s what you need to know about the top-up, how much you’ll be receiving, and where you can spend those credits on.

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SkillsFuture Opening Credit ($500)

Launched in 2015, all Singaporeans aged 25 and above receive an opening credit of $500. These initial credits have no expiry, and can be spent on all SkillsFuture Credit-eligible courses.

You can refer to the full list of eligible courses you can use your SkillsFuture credits on.

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Budget 2020: Next Bound Of Skills Future ($500)

As announced in Budget 2020, Singaporeans aged 25 and above as at 31 December 2020 will receive a one-off SkillsFuture credit top-up of $500. This set of credits will expire in 5 years, on 31 December 2025 to encourage timely action to upskill and reskill, and seize new career opportunities.

Since 1 April 2020, these SkillsFuture credits were usable at a limited set of 8,000 courses offered by NTUC LearningHub and participating Institutes of Higher Learning.

From 1 October 2020, the SkillsFuture credits can be used for all SkillsFuture Credit-eligible courses.

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Budget 2020: Mid-Career Support SkillsFuture Credit ($500)

Also announced in Budget 2020, an additional one-off SkillsFuture credit of $500 will be provided to Singaporeans aged 40 to 60 (inclusive) as at 31 December 2020.

These additional credits can only be spent on the roughly 200 career transition programmes offered by Continuing Education and Training (CET) Centres, and must be used by 31 December 2025.

CETs are SkillsFuture-approved training providers that offer a comprehensive list of Workforce Skills Qualification (WSQ) courses, employment advisory and placement services. CETs cover a range of industries, including retail, tourism, hospitality, aerospace, security, finance, digital animation, and process engineering.

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Checking How Much SkillsFuture Credits You Have Left

You can login to the SkillsFuture portal using your SingPass to check the balance on your SkillsFuture Credits, as well to submit a request to use your SkillsFuture credits on a course you’ve already signed up for. Filing of requests to use SkillsFuture credits should be done within 60 days of the commencement of the course start date.

You can watch this video for a step-by-step guide on checking your balance and filing claims. If you have further any queries or difficulties with submitting online SkillsFuture credit claims, you can use the SkillsFuture feedback portal for assistance.

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