BUDGET 2025: Gov’t revamping SkillsFuture Enterprise Credit model, grants

Instead of a reimbursement basis, the credit will be more like a digital wallet in the future.

Authorities are planning to revamp its credit scheme for enterprises undergoing workforce transformation, making the disbursement more like accessing a digital wallet than a reimbursement process.

The redesigned SkillsFuture Enterprise Credit will reportedly allow companies to check how much money they have and use the credit immediately to offset workforce transformation, said Prime Minister Lawrence Wong in his Budget 2025 speech, 18 February.

The current process sees companies having to pay upfront for staff training, with the credit used given back on a reimbursement basis.

Furthermore, all companies with at least 3 resident employees will get at least $10,000.

The new credit will be available in the second half of 2025 and will last for three years.

Separately, the government is setting aside an additional $200m for NTUC’s CTC grant, with the aim of helping companies transform.

“We will also expand the CTC grant to support employee-led training,” Wong said during his speech.

All Singaporeans aged 40 and above will receive $4,000 in SkillsFuture credit.

From March 2025, individuals can apply for a training allowance of up to $3,000 per month for selected full-time courses, with up to 24 months of support. In total, each woker can get up to $72,000.

Workers in part-time training can also receive a $300 monthly allowance to support their learning expenses. The program will launch in early 2026, with the Ministry of Education detailing the plan further during the Committee of Supply, Wong said.

The government will introduce an enhanced tier of support under the Workfare Skills Support Scheme for lower-wage workers when they turn 30.

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