Percentage of SkillsFuture Credits Utilised to Date and Redemption Rate per Age Group
Ministry of EducationSpeakers
Summary
This question concerns the utilization rates of SkillsFuture Credit (SFC) and strategies to encourage uptake among lower-redemption groups as raised by Mr Chong Kee Hiong. Minister for Education Lawrence Wong stated that as of August 2020, 23.5% of eligible Singaporeans had utilized their SFC, with usage rates at 16% for those aged 60 and above compared to 22% for younger groups at end-2019. To boost engagement, SkillsFuture Singapore conducts community outreach workshops and provides personalized Skills and Training Advisory services in collaboration with unions and government agencies. Targeted efforts for older Singaporeans include providing specialized courses through the National Silver Academy and the Infocomm Media Development Authority’s Silver Infocomm Junction. These policy measures aim to signpost Singaporeans toward upskilling opportunities that support their career outcomes and meet their specific learning needs.
Transcript
27 Mr Chong Kee Hiong asked the Minister for Education (a) to date, what is the percentage of SkillsFuture credits utilised; (b) what is the redemption rate per age group (25-45, 46-65, 66 and above); (c) how will the Ministry encourage Singaporeans in the lowest redemption group to tap upon their SkillsFuture credits for learning.
Mr Lawrence Wong: As of end-August 2020, about 600,000 or 23.5% of eligible Singaporeans had utilised their SkillsFuture Credit (SFC).
The latest available data for the breakdown by age groups is as of end-2019. The percentage of older Singaporeans (aged 60 and above) who had used their SFC was about 16%. For Singaporeans in the other age groups (i.e. 25 to 39 years old, and 40 to 59 years old), it was around 22%. Overall, about 540,000 or 20% of eligible Singaporeans had utilised their SFC by the end of 2019.
SkillsFuture Singapore (SSG) works with various partners to run community outreach initiatives like the SkillsFuture Advice workshops or webinars, which help to raise awareness of SkillsFuture initiatives like the SkillsFuture Credit. To provide more personalised guidance to Singaporeans, SSG also works with Government agencies, unions and self-help groups to provide Skills and Training Advisory services at job fairs, workshops, community events and other touchpoints. These services seek to signpost Singaporeans towards courses that support their desired career and job outcomes.
Specific to older Singaporeans, SSG also works with partner agencies to ensure that there is a suitable range of SkillsFuture Credit-eligible courses to cater to their upskilling needs. This includes IT courses offered by the Infocomm Media Development Authority's (IMDA) Silver Infocomm Junction and courses supported by the National Silver Academy, as well as courses in mother tongue languages.