690,000 Singaporeans have used $500 SkillsFuture Credit top-up

They make up over a quarter of those eligible; credits from 2020 top-up expire at end-2025

- Gabrielle Chan

About 690,000 Singaporeans, or 26 per cent of those who are eligible, have used their one-off SkillsFuture Credit (SFC) top-up given in 2020.

SkillsFuture Singapore (SSG) gave these figures in a statement on Dec 3 in response to queries from The Straits Times about the one-off $500 credit top-up, which was issued to all Singaporeans aged 25 and above in October 2020 to support their training and development.

The credits will expire on Dec 31, 2025.

More individuals between the ages of 40 and 49 used the top-up from October 2020 to Nov 26, 2024, with 31 per cent doing so, compared with 21 per cent of those aged 60 and above.

About 30 per cent of those across the other age groups - 25 to 29, 30 to 39 and 50 to 59 - have used their credits.

This is separate from the first $500 tranche of SkillsFuture credits that Singaporeans get when they turn 25.

Those aged 40 to 60 as at Dec 31, 2020, were given an extra $500 credit as 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.