Debated in Parliament on 10 Oct 2016.
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.
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.
PAPERCUTS