SkillsFuture funding schemes are designed to address this concern by reducing the financial barrier to skills upgrading and lifelong learning.
Launched in 2015, SkillsFuture is a national movement that supports Singaporeans in developing skills throughout different stages of their careers. Through subsidies administered by SkillsFuture Singapore (SSG), individuals may receive government funding when enrolling in approved courses offered by recognised training providers and Continuing Education and Training centres. Eligible Singapore Citizens and Permanent Residents may receive subsidies of up to 70 per cent of course fees. These subsidies are applied directly to the course fees, allowing learners to pay the nett amount after government funding has been deducted. This significantly lowers the overall cost of professional training.
Additional support is available for mid-career Singaporeans. Under the SkillsFuture Mid-Career Enhanced Subsidy (MCES), Singapore Citizens aged 40 and above may receive subsidies of up to 90 per cent of course fees for approved courses offered by recognised training providers and Continuing Education and Training centres. For illustration, a professional development course priced at S$3,000 before GST may cost approximately S$900 after a subsidy of up to 70 per cent is applied. Eligible Singapore Citizens aged 40 and above who qualify for the MCES could pay about S$300 for the same course after government funding.
Learners may further offset remaining fees through SkillsFuture Credit, which is available to Singapore Citizens aged 25 and above and can be used for eligible courses listed on the MySkillsFuture portal. Employer-sponsored training programmes may also benefit from workforce development schemes that further reduce training costs.
Institutions such as SIM Academy provide professional development programmes that support working professionals in upgrading their capabilities. SIM Academy offers a range of short courses aligned with industry needs, including programmes in leadership, AI, sustainability, project management, organisation design and soft skills. Several of these programmes are eligible for SkillsFuture funding and SkillsFuture Credit.
SkillsFuture funding schemes continue to support Singapore's workforce transformation by making training more accessible. With government support and industry-aligned programmes offered by training providers such as SIM Academy, working professionals have greater opportunities to strengthen their capabilities and adapt to evolving job demands.
References:
- SkillsFuture Singapore. Funding for Individuals - https://www.ssg.gov.sg/funding-and-levy/funding-for-individuals/
- SkillsFuture Singapore. About SkillsFuture - https://www.skillsfuture.gov.sg/aboutskillsfuture
- SkillsFuture Course Fee Funding and Subsidies - https://www.myskillsfuture.gov.sg/content/portal/en/career-resources/career-resources/education-career-personal-development/SkillsFuture_Funding.html
- MySkillsFuture. SkillsFuture Credit - https://www.myskillsfuture.gov.sg/content/portal/en/header/credit.html
- SIM Academy. SkillsFuture Courses Offered by SIM Academy - https://www.sim.edu.sg/professional-development/courses/skillsfuture-courses
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https://www.sim.edu.sg/The issuer is solely responsible for the content of this announcement.
About SIM Academy
SIM Academy provides leading-edge professional development and enterprise solutions. SIM Academy offers over 300 executive and business programmes that help almost 10,000 professionals annually on average hone their competencies to drive business value and achieve peak personal and enterprise performance.
Our programmes encompass a comprehensive range of lifelong learning opportunities designed to empower professionals with the knowledge, skills, and competencies necessary to become effective change-makers and leaders in today's volatile and uncertain business landscape.
For more information on SIM Academy, visit sim.edu.sg
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