Eligible jobseekers to get up to S$6,000 financial support under new SkillsFuture scheme

The government is planning to help job seekers through a new SkillsFuture scheme targeted at helping lower- and middle-income workers who are involuntarily unemployed.

Prime Minister Lawrence Wong announced this during his National Day Rally speech on Aug. 18.

The scheme aims to provide eligible workers who have lost their jobs with temporary financial support of up to S$6,000 for up to six months.

SkillsFuture Jobseeker Support scheme

Losing a job is a major setback, PM Wong said, explaining that the government is looking for ways to lessen the strain on those who are affected.

He said that after discussing the matter with the National Trades Union Congress (NTUC) and the Labour Movement, they are ready to introduce a new SkillsFuture Jobseeker Support scheme.

The scheme will focus on helping lower- and middle-income workers, PM Wong said.

The government will provide temporary financial support of up to S$6,000 over a period of up to six months to those who lost their jobs.

“So we will help you get through the setback and bounce back stronger,” Wong said.

Jobseekers must do their part

PM Wong said that jobseekers must do their part even with assistance from the government.

He encouraged them to go for training, career coaching, and job matching services, saying these are essential investments that they need to make in themselves to find better jobs.

“This is the essence of our renewed social compact. We will have your back and stand by you; but you too must take responsibility for your actions, and make an effort to pull yourself up.”

He added that Manpower Minister Tan See Leng will provide more details about the new scheme soon.

Embrace lifelong learning

Wong also spoke more about equipping Singaporeans with the skills to stay competitive in the workforce.

While Singapore currently has an excellent workforce, he said the pace of change across industries and workplaces will accelerate.

“Some jobs will become obsolete, but new jobs with better pay will be created,” he said.

As such, Wong said we must all embrace lifelong learning.

He highlighted the SkillsFuture Level-Up programme, which was previously announced in March 2024.

The programme saw all Singaporeans aged 40 and above receiving a S$4,000 SkillsFuture Credit top-up in May.

PM Wong encourages everyone to take full advantage of the credits.

New training allowance

PM Wong acknowledged that improving effective skills takes commitment and time.

Workers will need to take time off for full-time training, and this can stretch over several months, he said.

The government will provide a new training allowance under the SkillsFuture Level-Up programme to help these workers financially.

From 2025, every Singaporean age 40 and above who takes time off from work to study full-time will get an allowance of up to S$3,000 per month for up to 24 months.

This will add up to a total of S$72,000.

The government will extend some of the training allowance to those who attend part-time courses as well, and the details are being worked on by the Ministry of Education (MOE), PM Wong shared.

“Going for training is not easy, especially for older workers. But I assure you: you are not alone,” PM Wong said.

Top photo from SkillsFuture SG/Facebook and Singapore Bakery & Confectionery Trade Association/Facebook