How can utilising SkillsFuture Credits support your career advancement by acquiring new skill sets? Or perhaps you’re keen on trying out a course, but you’re worried about investing too much money into it.
To make this process less daunting, the SkillsFuture movement was introduced by the government in 2015. In hopes of building a culture of lifelong learning, the initiative encourages Singaporeans to upgrade their abilities in their current field, or pick up new skills beyond their industry.
One can simply do so by using their SkillsFuture Credits to offset expenses for a variety of approved training courses and programmes.
What are SkillsFuture Credits
SkillsFuture Credits refers to credits which an individual can use to fund out-of-pocket course fees for skills-related courses. These credits can also be used on top of existing course fee subsidies provided by the government, such as the IBF subsidy.
What Courses Can You Take Using Your SkillsFuture Credits?
One way to utilised your credits is to take in-demand courses in tech. At Vertical Institute, you can use your SkillsFuture credits to participate in our beginner-friendly courses designed to enhance PRs and Singaporeans’ tech careers, regardless of prior experience. Here are the highly sought-after tech courses you can sign up for today:
1. Data Analytics Course
Vertical Institute’s Data Analytics course in Singapore is designed to equip individuals with the most in-demand skills and best practices in data analytics, covering industry tools: Excel, SQL and Tableau. Participants will culminate their learning by developing a capstone project to solve a real-world big data problem in the fintech industry.
2. Digital Marketing Course
Vertical Institute’s Digital Marketing course in Singapore will explore everything you need to know about digital marketing: social media, Search Engine Optimization (SEO), Search Engine Marketing (SEM), Google Analytics, content marketing, email marketing, and more. Participants will gain hands-on experience by executing their own digital marketing campaign – while receiving expert guidance.
3. UX Design Course
Vertical Institute’s UX Design course in Singapore will supercharge your career with end-to-end UX skills. Learn new tools and concepts, and demonstrate all stages of the UX process, from user research, information architecture, to prototyping and wireframing with Figma. Students will culminate their learning by developing a UX portfolio project in fintech — receiving expert feedback along the way.
4. Cybersecurity Course
Vertical Institute offers a comprehensive Cybersecurity course in Singapore. Firstly, this course delves into essential cybersecurity knowledge. It covers protection against online threats and scams among other topics. Furthermore, participants will actively engage in hands-on cybersecurity activities. Expert guidance is also provided throughout the learning process.
5. Blockchain & Cryptocurrency Course
Firstly, Vertical Institute in Singapore offers a detailed course on Blockchain & Cryptocurrency. Notably, it delves into the historical, theoretical, and technical aspects of blockchain technology and cryptocurrencies. Next, it provides knowledge about Bitcoin, an important part of the course. Further, it includes understanding other cryptocurrencies and blockchains. Also, it explores the world of Non-Fungible Tokens (NFTs) and decentralized finance. Lastly, the program ensures practical learning with in-class activities and real-world examples. This comprehensive approach ensures a thorough understanding of the subject.
Now that you’re aware of the ways to utilise your SkillsFuture Credits, let’s delve deeper into how to claim them and ascertain your eligibility as a Permanent Resident or Singaporean.
Who is eligible for SkillsFuture Credits?
The SkillsFuture Credits are only available to Singaporeans aged 25 and above. New Singapore citizens aged 25 and above will also be eligible for the SkillsFuture Credits once they have received their citizenship.
Permanent Residents (PRs) are not eligible for SkillsFuture Credits.
How much SkillsFuture Credits do I get?
The amount of SkillsFuture Credits an individual has depends on the date that they became eligible for it.
1 – Opening SkillsFuture Credit of $500
All Singapore citizens aged 25 and above in 2016 would have received an opening credit of $500. Singapore citizens below 25 years old in 2016 will similarly receive credits worth $500 in the year that they turn 25. This opening credit does not have an expiry date.
2 – One-Off SkillsFuture Credit Top-Up
All Singapore citizens aged 25 and above as of 31 December 2020 would have received an additional one-off SkillsFuture Credit top-up of $500. This was to further motivate individuals to upskill and seize opportunities in the future economy.
This one-off credit top-up of $500 can be used on all SkillsFuture Credit-eligible courses. However, any unused credits will expire on 31 December 2025.
3 – Additional SkillsFuture Credit (Mid-Career Support)
Lastly, to support individuals’ access to career transition programmes, another one-off SkillsFuture Credit top-up of $500 was provided to all Singapore citizens aged 40 to 60 as of 31 December 2020.
It is important to note that eligible individuals can only use the Additional SkillsFuture Credit (Mid-Career Support) on about 200 SkillsFuture Career Transition Programmes offered by the Continuing Education and Training (CET) Centres.
Similarly, the unused credits under this package will expire on 31 December 2025.
No extension of the expiry periods are allowed, so remember to take timely action to upskill and seize new career opportunities!
4 – How to check your SkillsFuture Credit balance
To check your SkillsFuture Credit balance, simply follow the steps below:
- Go to the MySkillsFuture Portal and click login
- Proceed to login with your SingPass
- Go to the SkillsFuture Credit page
- Check your SkillsFuture Credit balance in the box on the top left of the page.
We provided much more detailed content understand more about how to check and claim SkillsFuture Credits.
How do I use my SkillsFuture Credits?
As mentioned above, you are able to utilise your SkillsFuture Credits to gain access to a myriad of bite-sized courses to help you acquire new in-demand skills.
Some of these courses include:
- Courses subsidised or approved by SkillsFuture Singapore (including online courses)
- Selected courses offered by Ministry of Education funded institutions
- SkillsFuture@PA courses offered by the People’s Association
- Courses offered by the Infocommunications Media Development Authority of Singapore (IMDA)’s Silver Infocomm Junctions
- Courses supported by public agencies
- Selected courses under National Silver Academy
For an exhaustive list of SkillsFuture-approved courses, please visit their courses page.
How to claim SkillsFuture Credits
Once you have chosen a programme you want to enrol in, you have to first register for it with the training provider. Upon successful enrolment into the course, you can then you can check and submit a claim for SkillsFuture Credits.
- Login to MySkillsFuture Portal with your SingPass
- Go to the SkillsFuture Credit page
- Click on “Proceed to Submit a Claim”
- Click on “View More” for enrolled courses and select the course you want to claim SkillsFuture Credits for
- Click on “Submit Claim”
- Key in your payment details and upload supporting documents
About Vertical Institute
Vertical Institute prepares individuals for the jobs of tomorrow. We specialise in teaching in-demand skills, building the next generation of changemakers and inventors through our world-class tech courses and certifications.