Take-Up Rate Of SkillsFuture Credit
- The Minister reported that SkillsFuture Credit (SFC) utilisation has grown, with 192,000 Singaporeans using it in 2022, but rates are lower among older citizens (around 25% for those 60+) compared to younger age groups.
- The government is working with partners to expand course offerings, simplify processes, and is considering a further substantial SFC top-up for mature, mid-career Singaporeans to be announced later this year.
- Members raised concerns about the 50% overall utilisation rate, reasons for non-use, and suggestions for AI-driven course recommendations, with the Minister acknowledging room for improvement while emphasizing lifelong learning.