Latest news with #VenkataramananGaneshNarayanan
New Paper
22-06-2025
- Business
- New Paper
More than 70% of Singaporeans have yet to use SkillsFuture credit top-up expiring end-2025
Most Singaporeans - about 70 per cent of those eligible - have yet to tap the one-off $500 SkillsFuture Credit top-up that will expire on Dec 31, 2025, with just over six months to go. Since the top-up was introduced in October 2020, about 721,000 Singaporeans, or 28 per cent of those eligible, have used it, said SkillsFuture Singapore (SSG) in response to queries from The Straits Times on June 17. The usage rate has gone up by 2 percentage points since December 2024, according to the last check by ST, amounting to about 30,000 additional users. The one-off SkillsFuture Credit top-up will expire at the end of the year and will not be extended, said SSG, adding that to use this top-up, courses must start and claims be submitted by Dec 31, 2025. The one-time credit was issued to all Singaporeans aged 25 and above in 2020 to support their training and development during the pandemic. It is separate from the base $500 in SkillsFuture credits that Singaporeans receive when they turn 25. Another $500 credit was given to those aged 40 to 60 as at Dec 31, 2020, as part of mid-career support. Neither of these credits will expire. Similarly, on May 1, 2024, Singaporeans aged 40 and above were given an additional $4,000 credit. This new credit can be combined with any remaining mid-career credit previously given. Of the courses chosen by Singaporeans, the most popular were in training areas of information and communications, food and beverage, and sales and marketing, said SSG. "Within these areas of training, Singaporeans are taking up courses related to artificial intelligence, digital transformation, e-commerce and digital marketing, reflecting an interest in future-relevant and emerging skills," the agency added. Singaporeans are encouraged to use the remaining credits to "support their career and training objectives", said SSG. It added that those who need help identifying suitable courses or planning their next steps can attend free workshops or sign up for one-to-one advisory sessions. SSG said it sent an e-mail reminder on June 12 to remind Singaporeans of the expiring credits. It also encouraged Singaporeans to use the Careers and Skills passport - a digital tool it launched to showcase verified skills and boost job applications - for personalised training recommendations. SSG did not say how many such mailers it sent out, but noted that this was part of efforts to encourage Singaporean to tap on SSG initiatives. Mr Venkataramanan Ganesh Narayanan, who has been working as a cyber security management consultant for over 20 years, said he used his SkillsFuture credit top-up for an artificial intelligence and cybersecurity course. The 55-year-old currently advises senior technology leaders like chief information security officers and chief information officers. But attending this course was to "future-proof" his expertise, as he saw the impact of AI in the workplace. Mr Ganesh said the course taught him the basics of AI systems, how to secure them, and how to use AI to enhance cyber security. "I brought the cyber security experience I had and combined it with the new information I learnt about AI, and managed to provider better solutions for my clients," Mr Ganesh said. He added that not every country gives its citizens the chance to upskill, so when there is an opportunity to do so, everyone should take the chance to. In 2024, about 555,000 people participated in programmes supported by SSG, said the agency in its yearly update earlier in April. This is up from 520,000 individuals in 2023, said SSG, driven by a push to support mid-career workers, said SSG chief executive Tan Kok Yam. Of the 555,000 participants in 2024, 260,000 Singaporeans used their SkillsFuture credits, up from 192,000 in 2023, SSG said.
Straits Times
21-06-2025
- Business
- Straits Times
More than 70% of Singaporeans have yet to use SkillsFuture credit top-up expiring end-2025
Only 28 per cent of eligible Singaporeans have tapped the one-off $500 SkillsFuture Credit top-up. ST PHOTO: LIM YAOHUI More than 70% of Singaporeans have yet to use SkillsFuture credit top-up expiring end-2025 SINGAPORE – Most Singaporeans – about 70 per cent of those eligible – have yet to tap the one-off $500 SkillsFuture Credit top-up that will expire on Dec 31, 2025, with just over six months to go. Since the top-up was introduced in October 2020, about 721,000 Singaporeans, or 28 per cent of those eligible, have used it, said SkillsFuture Singapore (SSG) in response to queries from The Straits Times on June 17. The usage rate has gone up by 2 percentage points since December 2024, according to the last check by ST, amounting to about 30,000 additional users. The one-off SkillsFuture Credit top-up will expire at the end of the year and will not be extended, said SSG, adding that to use this top-up, courses must start and claims be submitted by Dec 31, 2025. The one-time credit was issued to all Singaporeans aged 25 and above in 2020 to support their training and development during the pandemic. It is separate from the base $500 in SkillsFuture credits that Singaporeans receive when they turn 25. Another $500 credit was given to those aged 40 to 60 as at Dec 31, 2020, as part of mid-career support. Neither of these credits will expire. Similarly, on May 1, 2024, Singaporeans aged 40 and above were given an additional $4,000 credit. This new credit can be combined with any remaining mid-career credit previously given. Of the courses chosen by Singaporeans, the most popular were in training areas of information and communications, food and beverage, and sales and marketing, said SSG. 'Within these areas of training, Singaporeans are taking up courses related to artificial intelligence, digital transformation, e-commerce and digital marketing, reflecting an interest in future-relevant and emerging skills,' the agency added. Singaporeans are encouraged to use the remaining credits to 'support their career and training objectives', said SSG. It added that those who need help identifying suitable courses or planning their next steps can attend free workshops or sign up for one-to-one advisory sessions. SSG said it sent an e-mail reminder on June 12 to remind Singaporeans of the expiring credits. It also encouraged Singaporeans to use the Careers and Skills passport – a digital tool it launched to showcase verified skills and boost job applications – for personalised training recommendations. SSG did not say how many such mailers it sent out, but noted that this was part of efforts to encourage Singaporean to tap on SSG initiatives. Mr Venkataramanan Ganesh Narayanan, who has been working as a cyber security management consultant for over 20 years, said he used his SkillsFuture credit top-up for an artificial intelligence and cybersecurity course. The 55-year-old currently advises senior technology leaders like chief information security officers and chief information officers. But attending this course was to 'future-proof' his expertise, as he saw the impact of AI in the workplace. Mr Ganesh said the course taught him the basics of AI systems, how to secure them, and how to use AI to enhance cyber security. 'I brought the cyber security experience I had and combined it with the new information I learnt about AI, and managed to provider better solutions for my clients,' Mr Ganesh said. He added that not every country gives its citizens the chance to upskill, so when there is an opportunity to do so, everyone should take the chance to. In 2024, about 555,000 people participated in programmes supported by SSG, said the agency in its yearly update earlier in April. This is up from 520,000 individuals in 2023, said SSG, driven by a push to support mid-career workers, said SSG chief executive Tan Kok Yam. Of the 555,000 participants in 2024, 260,000 Singaporeans used their SkillsFuture credits, up from 192,000 in 2023, SSG said. Join ST's WhatsApp Channel and get the latest news and must-reads.
