Singapore continues to promote lifelong learning and healthy living through two national initiatives – Skills Future Credits and ActiveSG Credits.
ActiveSG credits are designed to encourage Singaporeans to adopt a healthier, more active lifestyle by encouraging healthier living and regular physical activity and making fitness more accessible. In parallel, the Skills Future Credit scheme empowers individuals to take ownership of their skills development and lifelong learning.
However, uptake remains modest. Since the scheme’s introduction in October 2020, about 720,000 Singaporeans – or 28% of those eligible – have used their Skills Future Credits. This means that over 70% of available credits remain untapped.
In a recent boost, from 1 May 2024, Singaporeans aged 40 and above were given an additional S$4,000 in Skills Future Credits to help mid-career workers upskill and remain competitive.
For businesses, this highlights the importance of encouraging employees to leverage such schemes to improve their competencies and resilience. A more skilled and adaptable workforce strengthens companies’ ability to navigate an evolving economic landscape.
At NS Global Consultants Pte. Ltd., we support businesses with corporate secretarial, bookkeeping, compilation, and tax services, enabling SMEs to focus on growth while fostering stronger workforce development.
Contact us today to learn how we can support your business with compliance and governance, while you invest in upskilling and future-proofing your team.