Utilisation and Top-up of SkillsFuture Credits
Ministry of EducationSpeakers
Summary
This question concerns the utilization and top-up of SkillsFuture Credits, specifically regarding the number of users, total expenditure, and the criteria used to determine future top-ups for Singaporeans. Acting Minister Mr Ong Ye Kung reported that over 80,000 Singaporeans utilized approximately $22.5 million in credits between January and August 2016. He clarified that the Government will provide periodic top-ups based on factors such as utilization rates and the Government’s fiscal position, though many citizens have yet to use their initial credits. Acting Minister Mr Ong Ye Kung emphasized that the Government primarily focuses on subsidizing course fees at the supply end to ensure that reskilling remains affordable for workers. Furthermore, he noted that rising unemployment is addressed through comprehensive initiatives like the Adapt and Grow programs rather than through credit top-ups alone.
Transcript
33 Mr Pritam Singh asked the Acting Minister for Education (Higher Education and Skills) (a) how many Singaporeans have utilised their SkillsFuture credits so far; (b) what is the total amount of SkillsFuture credit that has been utilised; (c) whether the Ministry intends to provide a top-up to the SkillsFuture credit in light of rising unemployment and the prospect of a skills deficit among some Singaporeans; and (d) on what basis will the Government decide on a SkillsFuture credit top-up for Singaporeans.
Mr Ong Ye Kung: From January to August 2016, over 80,000 Singaporeans had utilised their SkillsFuture Credit. The approved claims amounted to $22.5 million during this period.
We are still in the early stage of rolling out the SkillsFuture Credit. Most Singaporeans have yet to utilise their credits. Nonetheless, the Government will make periodic top-ups to the SkillsFuture Credit and review when to do so, taking into account various factors, including the utilisation rates and the Government’s fiscal position. However, far more funds are dedicated to subsidising course fees at the supply end to make them affordable, so that there are avenues for workers to reskill or upgrade.
The issue of rising unemployment cannot be addressed through SkillsFuture Credit top-ups alone. For this, we have a wide range of initiatives to help job-seekers, including those run by MOM under the Adapt and Grow umbrella, and other skills training programmes supported by MOE and SkillsFuture Singapore.