SkillsFuture Singapore ( SSG) announced on Wednesday ( Apr 9 ) that about 260, 000 Singaporeans used their SkillsFuture credits in 2024, a 35 % increase over the previous year.  ,
28 000 Singaporeans enrolled in their SkillsFuture mid-career certificates after the plan was implemented in 2024 out of this group.  ,
In May 2024, Singaporeans over the age of 40 received an additional S$ 4, 000 ( US$ 2, 900 ) in SkillsFuture mid-career credits. More than 7, 000 programs are available to be used with the funds, and younger Singaporeans may receive the same amount when they turn 40.  ,
More Singaporeans are enrolling in programs that are intended to help them succeed, SSG reported in a press release on Wednesday.  ,
For instance, the mid-career credits may be used for courses that include complete or stackable qualifications from higher education institutions, SkillsFuture Career Transition Programs, or courses that have been developed to meet the liberal wage model’s requirements for progression.  ,
According to SSG, about 112,000 Singapore took up these programs in 2024, or about 20 % more than they did in 2023.  ,
According to the legal committee, of those who participated in the 239 SkillsFuture Career Transition Programmes offered in 2024, 54 percent of them found employment within six weeks of finishing the course.  ,
According to SSG’s chief executive, Mr. Tan Kok Yam, SSG wants to make it” as simple as possible” for people to find the programs they want and provide the pertinent information to help them create choices in an effort to increase the use of their mid-career funds.  ,
SSG will also foster trust in the coaching industry by raising the caliber and number of providers of training, he added.  ,
” Quality is often a work in progress, and this is why we often place an emphasis on enhancing the quality over time, allowing education services… to innovate,” said Mr. Tan.  ,
SSG is “weeding out” outdated or” not performing” training programs as well as training companies that have “become “less related over day,” he continued.  ,
Training providers are expected to constantly review and improve education criteria, according to SSG in the media release released on Wednesday. To remain eligible for funding from the government, they may also go through assessments and complete evaluations.  ,
About 15 % of teaching operators who were audited in 2024 were fired or chose to leave because of concerns about the caliber of their training, according to SSG.  ,
The press release stated that” strengther standards on training registration were also introduced, requiring programs to meet standards of performance and industry importance to be funded.”  ,
” Seminars that perform ill will not be renewed for funding or may be deleted from the program file before the end of their accuracy and be required to make changes before re-applying,” according to the statement.
MORE WORKERS SENDING Staff FOR TRAINING ,
About 1.05 million Singapore have used their funds since the SkillsFuture system was introduced in 2016, according to SSG.  ,
44 percent of Singaporeans between the ages of 30 and 59 have used their funds, and 14 % have taken part in SSG-supported programs sponsored by their employers.  ,
According to the legal board, of the 24, 000 businesses that took part in SSG-supported initiatives in 2024, 95 % were small to medium-sized businesses.  ,
According to Mr. Tan, having more employers sponsor their employees for these coaching programs is a “very good growth” because it demonstrates that businesses are investing in their employees and finding the programs to be useful to their needs.  ,
According to SSG, more people who take part in SSG-supported programs are enrolling in IT-related programs in fields like online advertising, security, and artificial intelligence.  ,
In the press release, it stated that” this reflects both the quick digitalization across a wide range of areas in our economy as well as the rapid pace of change in the IT domain.”  ,
In 2024, SSG also expanded its course possibilities to include the online learning platforms Udemy Business and Coursera. According to SSG, the number of states for online learning membership and training increased by twofold from 266 in 2023 to 2 655 in 2024.  ,