Recent Take-up Rate for SkillsFuture Credit and Courses

23 Mr Melvin Yong Yik Chye asked the Minister for Education (a) what is the percentage of eligible Singaporeans who have fully utilised their $500 SkillsFuture Credit; (b) what is the percentage who have partially utilised their SkillsFuture Credit; and (c) whether the SkillsFuture utilisation rate has increased over the past six months.

Mr Lawrence Wong: As of August 2020, about 600,000 or 23.5% of eligible Singaporeans had utilised their SkillsFuture Credit (SFC). The 23.5% of eligible Singaporeans comprised about 9% who had fully or almost fully utilised their opening SFC of $500 and about 14.5% who had partially utilised their SFC (with remaining balances of more than $50).

We have seen an increase in the utilisation over the past six months, from 22.2% in May 2020 to 24.9% in November 2020. The increase could be due to improved awareness of upskilling opportunities and stronger personal interest in upskilling to enhance one’s employability amidst the volatile jobs situation last year.