SkillsFuture Credit
SkillsFuture Credit

Opening SkillsFuture Credit of $500

SkillsFuture Credit aims to encourage individuals to take ownership of their skills development and lifelong learning. Introduced in 2015, all Singaporeans aged 25 and above will receive an opening credit of S$500.

One-Off SkillsFuture Credit Top-Up

To further encourage Singaporeans to take timely action to reskill and upskill to seize opportunities in the future economy, a one-off SkillsFuture Credit top-up of $500 will be provided to every Singapore Citizen aged 25 years and above as of 31 December 2020.

From 1 October 2020, this top-up can be used on all SkillsFuture Credit-eligible courses and will expire on 31 Dec 2025.

Additional SkillsFuture Credit (Mid-Career Support)

To improve individuals’ access to career transition programs, a one-off SkillsFuture Credit of $500 will be provided to every Singapore Citizen (SC) aged 40 to 60 (inclusive) as of 31 December 2020. This will be over and above the $500 SkillsFuture Credit top-up for SCs aged 25 and above as of 31 December 2020.

From 1 October 2020, eligible individuals can use the Additional SkillsFuture Credit (Mid-Career Support) on (i) SGUnited Skills Programme, (ii) SGUnited Mid-Career Pathways Programme – Company Training, and (iii) Career Transition Programmes.

All unused credit from this additional SkillsFuture Credit will expire on 31 December 2025.

For more information on how to claim your SkillsFuture credits, please refer to the SkillsFuture website.

IBF Standards Training Scheme
Enhanced Funding Support for IBF FTS and IBF Credit

MAS will enhance course fee subsidies for locals attending accredited or recognized courses up to 90%. IBF will provide an additional 5% in support in the form of IBF Credit, bringing the course fee subsidy up to 95%. This existing scheme will also be expanded to include workers in eligible FinTech firms. 
To alleviate any cashflow challenges that individuals, employers or training providers may face during this difficult time, MAS will allow advanced disbursement of course fees subsidies until 30 June 2021.

Current Funding Support

​Enhanced Funding Support

Funding Quantum ​70% of direct training costs*

Singapore Citizens aged 40 years old and above will be eligible for 90% co-funding of direct training costs.

​90% of direct training cost*

Available for training programmes commencing between 8 April 2020 and 31 December 2021 (both dates inclusive).

Advanced disbursement of course fees subsidies available for training programmes commencing between 8 April 2020 and 30 June 2021 (both dates inclusive).

​IBF Credit ​-N.A- ​5% on top of 90% subsidy.

Only available for training programmes commencing between 8 April 2020 and 30 June 2021 (both dates inclusive) and completed no later than 30 September 2021.

​Grant Cap

​ ​S$7,000 per participant per programme

Training Grant Allowance (TAG) ​​-N.A- ​​Self-Sponsored Individuals
Only available for training programmes commencing between 8 April 2020 and 31 December 2020 (both dates inclusive) and completed no later than 31 March 2021

Eligible Companies
Only available for training programmes commencing between 8 April 2020 and 30 June 2021 (both dates inclusive) and completed no later than 30 September 2021
​Eligible Individuals

​Company-sponsored individuals or self-sponsored participants

Singapore Citizens or Singapore Permanent Residents, physically based in Singapore

Successfully completed IBF-STS recognized programme.​

Companies eligible to submit claims for company-sponsored participants
  • ​Singapore-based financial Institutions regulated by MAS (licensed or exempt from licensing by MAS)
  • ​Singapore-based financial Institutions regulated by MAS (licensed or exempt from licensing by MAS)
  • FinTech firms certified by Singapore FinTech Association
*Direct training cost would be based on the gross programme fee charged by the external training provider or apportioned basic salaries of internal staff involved in developing and/ or delivering in-house programmes. Qualifying expenses include training costs incurred for both executive and non-executive staff, as well as staff employed on a short-term basis (less than one year, inclusive of contract staff and interns). Apportioned basic salaries of full time in-house trainers involved in developing and/or delivering in-house programmes will also be eligible for support.

Training Allowance Grant

The Training Allowance Grant (TAG) aims to help Financial Institutions and FinTech firms manage manpower costs and support the skills upgrade of their employees. Self-sponsored individuals are also eligible for TAG to encourage them to invest time into skills upgrading.

Company Sponsored Participants

Self-Sponsored Participants

Grant Amount

​S$15/hour of eligible training and assessment hours

​S$10/hour of eligible training & assessment hours

Eligible FTS Courses
  • Commencing between 8 April 2020 to 30 June 2021 (both dates inclusive)
  • Completed no later than 30 September 2021
  • ​Commencing between 8 April 2020 to 31 December 2020 (both dates inclusive)
  • Completed no later than 31 March 2021
​Eligible Participants
  • ​Singapore Citizens or Singapore Permanent Residents, physically based in Singapore

TAG will only be disbursed to the relevant sponsoring companies or self-sponsored individuals upon the participants’ successful completion and passing the assessment component of the IBF-STS programme. 

For more information on IBF Standards Training Scheme, please refer to the IBF website.

UTAP Funding

What is UTAP?

UTAP is a training benefit for NTUC members to defray their cost of training. This benefit is to encourage more NTUC members to go for skills upgrading.

NTUC members enjoy 50% *unfunded course fee support for up to $250 each year when you sign up for courses supported under UTAP. NTUC members aged 40 and above can enjoy higher funding support up to $500 per individual each year, capped at 50% of unfunded course fees, for courses attended between 1 July 2020 to 31 December 2022.

*Unfunded course fee refers to the balance course fee payable after applicable government subsidy. This excludes GST, registration fees, misc. fees etc.

Who can apply?

All NTUC members can apply for UTAP. However, the following criteria must be met to be eligible for UTAP:

  1. Paid-up NTUC membership before course commenced, throughout whole course duration and at the point of claim
  2. Course by training provider must be supported under UTAP, and training must commence within the supported period
  3. Course must not be fully funded through company sponsorship or other types of funding
  4. You must achieve a minimum of 75% attendance for each application and sat for all prescribed examination(s), if any
  5. UTAP application must be submitted within 6 months after course completion

How do I check my NTUC membership status?

You may check your NTUC membership status by calling our hotline at 6213 8008 and select the following options:

  • Press 1 for member
  • Provide your NRIC number
  • Press 1 again to check your membership status

How to apply for UTAP?

Step 1: Click on ‘Search Course’ under the “Skills Upgrade Available” tab to find out if the course and training provider is supported under UTAP.
Step 2: Register for course with training provider and attend training. For course information and enrolment, please contact the training provider.
Step 3: Login to the U Portal account to submit the UTAP application. NTUC Members should apply for their UTAP claim within 6 months after course ends. Late applications will be rejected.

For more information on UTAP funding, please refer to the NTUC UTAP website.