ABOUT THE NEXT BOUND OF SKILLSFUTURE
The Next Bound of SkillsFuture aims to further support Singaporeans to develop to their fullest potential throughout life, regardless of their starting points.
The Next Bound of SkillsFuture will 1 enable individuals to continue learning, 2 enhance the role of enterprises in developing their workforce, and 3 have a special focus for mid-career workers through a new SkillsFuture Mid-Career Support Package for locals in their 40s and 50s, to help them stay employable and move to new jobs or new roles.
HOW WILL THE NEXT BOUND OF SKILLSFUTURE BENEFIT ME?
One-off SkillsFuture Credit top-up of $500 for every Singaporean aged 25 years and above
The one-off top-up for Singaporeans aged 25 years and above as at 31 December 2020, will be available for use from 1 April 2020 on more than 8,000 courses offered by the Institutes of Higher Learning and NTUC LearningHub.
From 1 October 2020, this additional credit can be used for the full range of SkillsFuture Credit-eligible courses.
To encourage Singaporeans to take timely action to upskill and reskill and be better equipped to seize new career opportunities, this top-up will expire on 31 December 2025.
Enhancements to MySkillsFuture Portal
To help individuals make informed training decisions, the digital tools within the MySkillsFuture portal will also be enhanced to provide more customised recommendations on training options.
Increase capacity of SkillsFuture Work-Study Programmes by 2025
The capacity of the SkillsFuture Work-Study Programmes will be more than doubled by 2025 to make it a mainstream pathway, with 12% of each cohort going through this pathway, which translates to about 5,000 intake places. This is up from the current 3.5% or 1,600 places.
New SkillsFuture Enterprise Credit to encourage employers to embark on enterprise and workforce transformation
Eligible employers will receive a one-off $10,000 credit to cover up to 90% of out-of-pocket expenses for supportable enterprise capability development and workforce transformation programmes.
More support for job redesign
The Productivity Solutions Grant will be expanded to include job redesign consultancy services.
Work with large anchor companies/SkillsFuture Queen Bee companies to support training for their sectors and value chain partners
SkillsFuture Singapore will work with large anchor companies/SkillsFuture Queen Bee companies to support training for their sectors and value chain partners. We aim to partner up to 40 of such anchor companies/SkillsFuture Queen Bee companies to benefit 4,000 SMEs over the next five years.
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Deepen workplace learning capabilities
The National Centre of Excellence for Workplace Learning (NACE) will be expanded to two more Institutes of Higher Learning over the next few years, to benefit over 1,200 enterprises, especially our SMEs. The next centre will be located at the Singapore Institute of Technology later this year.
3.SkillsFuture Mid-Career Support Package
The new SkillsFuture Mid-Career Support Package aims to create more career transition opportunities for locals in their 40s to 50s, and help them remain employable and be able to access good jobs. By 2025, we aim to double the annual placements for this group through reskilling programmes to 5,500 through the following initiatives.
Increase the capacity of reskilling programmes
Hiring incentive to employers who hire local jobseekers aged 40 and above through a reskilling programme
The Government will provide 20% salary support to the employer, for each eligible worker, for six months, capped at $6,000 in total.
Additional SkillsFuture Credit (Mid-Career Support)
A special SkillsFuture Credit of $500 will be provided to every Singaporean aged 40 to 60 years in 2020. This is over and above the broad-based top-up of $500, and this additional credit can be used for selected reskilling programmes at CET centres. This will expire on 31 December 2025.
Volunteer Career Advisors
A group of volunteer Career Advisors will be assembled from professional communities to provide peer-level support and career guidance to local workers in navigating professional pathways.