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What Are SkillsFuture Credits And How Do I Use It? [2022]

by | Jun 9, 2022 | Blogs | 0 comments

SkillsFuture Credits

Looking to switch career paths but lack the necessary skills? 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 exactly 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. 

Who is eligible for SkillsFuture Credits?

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:

  1. Go to the MySkillsFuture Portal and click login
  2. Proceed to login with your SingPass
  3. Go to the SkillsFuture Credit page
  4. Check your SkillsFuture Credit balance in the box on the top left of the page

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
  • [email protected] 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 submit a claim for SkillsFuture Credits.  

  1. Login to MySkillsFuture Portal with your SingPass
  2. Go to the SkillsFuture Credit page
  3. Click on “Proceed to Submit a Claim”
  4. Click on “View More” for enrolled courses and select the course you want to claim SkillsFuture Credits for
  5. Click on “Submit Claim”
  6. Key in your payment details and upload supporting documents
  7. Submit

What’s next

Now that you have an understanding of what SkillsFuture Credits are, the next step is to start your journey of upskilling.

Vertical Institute offers in-demand tech bootcamps in Data Analytics, Data Science, and UX Design. These bootcamps have up to 90% IBF subsidy for Singaporeans and PRs, and the balance fees are even claimable with SkillsFuture Credits or NTUC UTAP.

Beginner-friendly with no prior knowledge required, earn your industry-recognised certification in tech by signing up for our bootcamps today!

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. 

Singaporeans and PRs can receive up to 90% IBF Subsidy off their course fees with Vertical Institute. The remaining fees can be claimable with SkillsFuture Credits or NTUC UTAP.

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