Key components of the Programme can be summarised as follows:
- Financial Incentives:
- With no expiry, a $4,000 SkillsFuture Credit top-up is provided to every Singaporean when they turn 40 to encourage continuous learning. This can apply to approximately 7,000 selected courses that offer strong employability outcomes.
- Educational Opportunities:
- Support is extended for pursuing additional subsidised full-time diplomas, especially in high-demand sectors, ensuring that mid-career professionals remain competitive and relevant.
- Training Allowance:
- To mitigate income loss during training, a new Mid-Career Training Allowance offers financial support equivalent to 50 per cent of the average income over the past 12 months, capped at $3,000 per month.
While Singapore National Employers Federation (SNEF) applauds the government's proactive approach, it also suggests several enhancements to optimise the programme's success:
- Flexible Learning and Work Arrangements:
- SNEF proposes introducing part-time educational pathways that allow simultaneous part-time employment, reduce the strain on the labour market, and address individual concerns about career gaps.
- Robust On-the-Job Training:
- Emphasising the need for structured on-the-job training, SNEF encourages employers to design custom training modules directly applicable to current job roles. This enhances skill relevance and aligns closely with business productivity goals.
- Industry-Specific Training Incentives:
- To ensure that training translates into real career opportunities, SNEF suggests linking educational programmes with industry-specific needs and providing practical experiences through internships and projects within the curriculum.
Employers and policymakers are encouraged to actively engage in the SkillsFuture Level-Up Programme by integrating training with everyday business operations and supporting employees through tailored skill development initiatives, providing a more comprehensive, flexible, and practical framework for lifelong learning.