Use of SkillsFuture Credit Scheme and Achievement of Scheme's Policy Outcomes

24 Mr Liang Eng Hwa asked the Minister for Education (a) as of 2023, what is the utilisation of the SkillsFuture Credit (SFC) by Singapore citizens; (b) whether the SFC scheme has achieved its intended policy outcomes; and (c) whether there are any plans to further enhance the scheme.

Mr Chan Chun Sing: Since launching the SkillsFuture movement, the training participation rate of individuals, including employer-sponsored training, has risen from 35% in 2015 to around 50% in 2022. This is in part supported by the SkillsFuture Credit (SFC) that encourages Singapore Citizens to take ownership of their learning and skills development.

In 2022, 192,000 Singaporeans used their SFC. This is an annual increase of around 12,000 per year, from 156,000 in 2019. This growth is a result of efforts by SkillsFuture Singapore to promote a culture of lifelong learning and help individuals make informed choices based on their training needs.

Given that mature workers require more support to pursue substantive reskilling and upskilling to stay employable, the Government is looking into providing a further substantial SFC top-up for mature, mid-career Singaporeans. More details will be announced later this year.