SINGAPORE: About 260,000 Singaporeans used their SkillsFuture credits in 2024, 35 per cent more than the year before, announced SkillsFuture Singapore (SSG) on Wednesday (Apr 9).
Of this group, 28,000 Singaporeans dipped into their SkillsFuture mid-career credits after the scheme was rolled out in 2024.
Singaporeans aged 40 and above received an additional S$4,000 (US$2,900) in SkillsFuture mid-career credits in May 2024. Younger Singaporeans will receive the same amount when they turn 40, and more than 7,000 courses are eligible to be used with the credits.
More Singaporeans are taking up courses designed with employment objectives in mind, said SSG in a press release on Wednesday.
For example, the mid-career credits can be used for courses including full or stackable qualifications from institutes of higher learning, SkillsFuture Career Transition Programmes, or courses designed to meet progression requirements under the Progressive Wage Model.
About 112,000 Singaporeans took up such courses in 2024, about 20 per cent more than in 2023, SSG said.
Of those who took part in the 239 SkillsFuture Career Transition Programmes available in 2024, 54 per cent found employment within six months of completing the course, said the statutory board.
To encourage more Singaporeans to use their mid-career credits, SSG wants to make it “as easy as possible” for people to find the courses they want and deliver the relevant information to help them make decisions, said chief executive of SSG Mr Tan Kok Yam.
SSG will also build confidence in the training sector by improving the quality of courses and providers available, he added.
“Quality is always a work in progress, and this is why we always emphasise (keeping) an eye on improving the quality over time, allowing training providers … courses to innovate,” said Mr Tan.
At the same time, SSG is “weeding out” courses that are “not performing” or outdated, and training providers that have become “less relevant over time”, he added.
Training providers are expected to consistently review and raise training standards, said SSG in the press release on Wednesday. They must also undergo assessments and pass evaluations to maintain their eligibility for funding from the government.
About 15 per cent of training providers who were audited in 2024 were terminated or chose to withdraw due to reasons related to the quality of their courses, SSG said.
“Stricter criteria on course renewal were also introduced, requiring courses to meet standards of performance and industry relevance to stay funded,” the press release read.
“Courses that do poorly will not be renewed for funding or may be removed from the course directory before the end of their validity and be required to make improvements before re-applying.”
MORE EMPLOYERS SENDING WORKERS FOR TRAINING
Since the SkillsFuture scheme was introduced in 2016, about 1.05 million Singaporeans have used their credits, SSG noted.
Among Singaporeans between 30 to 59 years old, 44 per cent have used their credits, and 14 per cent have attended SSG-supported programmes sponsored by their employers.
Of the 24,000 companies that participated in SSG-supported programmes in 2024, 95 per cent of them were small- to medium-sized enterprises, said the statutory board.
More employers sending their workers for such training programmes is a “very positive development” because it shows that companies are investing in their workers and finding the courses relevant to their needs, said Mr Tan.
More of those who participate in SSG-supported programmes are taking up IT-related courses in areas such as artificial intelligence, cybersecurity and digital marketing, said SSG.
“This reflects both the rapid digitalisation across a broad spectrum of sectors in our economy, as well as the pace of change in the IT domain,” it said in the press release.
SSG also added online learning platforms Udemy Business and Coursera to its course options in 2024. The number of claims for online learning subscriptions and courses saw a tenfold increase from 266 in 2023 to 2,655 in 2024, SSG noted.
