Singapore Embraces SkillsFuture Upskilling
Singapore will use SkillsFuture to upskill mid-career workers
Acknowledging the evolving nature of skills sought by industry, the plan seeks to provide financial aid for full-time diploma degrees in higher education.
By RethinkHR, March 26, 2024
In partnership with the Ministry of Education (MOE), Singapore has launched the SkillsFuture Level-Up Programme (SFLP) to prepare the fast changing workforce in Al and other emerging technologies. The curriculum will assist Singaporeans in their mid-career who are 40 years of age or older and help them remain competitive in the labour market.
The SFLP intends to provide funding for full-time diploma programmes in higher education, recognising the need to adjust to technological disruptions and the evolving nature of industry-demanded skills.
In addition, the project fosters intergenerational learning, enabling mid-career professionals to master new skills in tandem with younger peers. This fusion of new ideas and experience enhances the educational setting and emphasizes the value of lifelong learning.
In order to encourage involvement, qualified Singaporeans are eligible for the Mid-Career Enhanced Subsidy (MCES), which pays for up to 90% of the course costs for programmes supported by the MOE and SSG. To enhance the current SkillsFuture Credit programme, an additional $4,000 will be given as a top-up for Mid-Career SkillsFuture Credit. This guarantees that professionals in the middle of their careers will always have access to resources for skill improvement.
The programme expands on earlier initiatives, like the one-time SkillsFuture Credit top-up given to people between the ages of 40 and 60 in 2020.
This top-up’s expiration date will be extended, and balances will be combined with the new $4,000 top-up to enable a smooth transfer.
For a wide range of courses, including full qualification programmes offered by Institutes of Higher Learning (ILs), MOE-subsidized qualifications from artistic institutions, career-transition programmes, courses aligned with Progressive Wage Model sectors, and workplace literacy and numeracy courses, Singaporeans can take advantage of the mid-career tier of SkillsFuture Credit.