SkillsFuture Credit aims to encourage individuals to take ownership of their skills development and lifelong learning. All Singaporeans aged 25 and above will receive an opening credit of S$500 from January 2016. Your credit will not expire and the government will provide periodic top-ups, so you may accumulate your credit.
Skillsfuture is a national movement to provide Singaporeans with the opportunities to develop their fullest potential throughout life, regardless of their starting points. Through this movement, the skills, passion, and contributions of every individual will drive Singapore's next phase of development towards an advanced economy and inclusive society.
No matter where you are in life – schooling years, early career, mid-career or silver years – you will find a variety of resources to help you attain mastery of skills. Skills mastery is more than having the right paper qualifications and being good at what you do currently; it is a mindset of continually striving towards greater excellence through knowledge, application, and experience. With the help of the Future Economy Council, education and training providers, employers, unions – you can own a better future with skills mastery and lifelong learning. Your skills. Your asset. Your future.
Everyone is part of Singapore's SkillsFuture journey. The choices you make or guide others to make in education, jobs or careers should lead to opportunities to maximize one's potential and develop a mastery of skills. To meet challenges and achieve success, chart your own paths through lifelong learning and skills mastery. Every Singaporean, every job, at every stage of life, counts.
All Singapore Citizens aged 25 and above will be able to access their SkillsFuture Credit account and submit claims once they have received their account activation letter.
Those turning 25 years old will receive their SkillsFuture Credit account activation letter by the first quarter of the same year. They will also receive an information booklet with guides on how to search for the list of approved courses and how to use their credit.
New Singapore Citizens aged 25 and above will receive their SkillsFuture Credit account activation letter within the next quarter after they receive their Singapore citizenship.
The Government will make periodic top-ups to Singaporeans’ SkillsFuture Credit accounts. No decision has been made as yet on the timing and amount for the next top-up.
SkillsFuture Credit is not a cash account and it will not earn any interest. The credit is non-transferable and lapses upon a change of citizenship or death. The credit can be used to offset out-of-pocket course fees when attending approved courses. You cannot withdraw cash from this account to pay your Training Provider as the transactions will be made directly through MySkillsFuture.