Funding Schemes

Singapore Workforce Development Agency

Skills Development Fund (SDF)

http://www.wda.gov.sg

What is the Skills Development Fund?

The Skills Development Fund (SDF) was established in 1979 with the primary objective to encourage employers in upgrading the skills of the employees. In line with the objective and spirit of the SDF, WDA subsidises course fees as an incentive to companies to send employees for training.

SDF provides financial assistance to employers to encourage them to train and upgrade the skills of their workers. This furthers the goal of equipping workers with the necessary capabilities to sustain Singapore’s competitiveness and economic growth.

What are the Funding Assistances for SDF supported Trainees?

Trainees will be eligible for funding of up to 80 % of course fee.

Who qualify for SDF Training Assistance?

  • Training is fully sponsored by companies
  • Companies are registered or incorporated in Singapore
  • Trainees are employees who are either Singapore Citizens or Permanent Residents (PR) of Singapore
  • Trainees have achieved at least 75% attendance and have sat for all examinations

Skills Redevelopment Programme (SRP)

  • Increase skills
  • Enhance employability
  • Increase workers’ productivity through training

Absentee Payroll Funding is a grant which helps companies to defray the manpower cost of training.

Eligibility for SRP Absentee Payroll Funding

  • Companies are registered or incorporated in Singapore
  • Trainees are employees who are either Singapore Citizens or Permanent Residents (PR) of Singapore
  • Trainees have achieved at least 75% attendance and have sat for all examinations if the course leads to certification
  • Trainees continue to receive salary when they go for training
  • Company must submit an application to Skills Development Fund (SDF) to claim course fees funding for the same trainees and course for the absentee payroll funding application.

Please contact Workforce Development Agency @ 6883 5885 or login to www.skillsconnect.gov.sg for more information.

SkillsConnect System

The SkillsConnect system is an e-portal which serves as a central gateway for the Singapore Workforce Development Agency’s (WDA’s) business partners and customers to apply for accreditation and training incentives.

The SkillsConnect System will replace the existing systems for SDF claims and absentee payroll. You need to familiarize yourself with the new SkillsConnect system and to learn how to use the system to apply for funding efficiently.

Benefits of the SkillsConnect system

  • Greater convenience and higher service levels for Training Organizations and Companies which will no longer need to access multiple systems to apply for SDF grants and absentee payroll.
  • Training Organizations will be able to apply for course accreditations and obtain funding approval for their accredited courses in a streamlined process. They no longer need to access different systems.

Productivity and Innovation Credit (For Companies)

What is the Productivity and Innovation Credit?

The PIC scheme was introduced to support businesses that invest in innovation and productivity improvements. Businesses can enjoy a 400% tax deduction or 30% cash payout1 for investments under six qualifying activities.  In Budget 2013, the PIC Bonus was introduced to provide businesses a dollar-for-dollar matching cash bonus on top of the existing PIC tax deductions and/or cash payout.

To qualify for the PIC cash payout, businesses must have:

  • Incurred PIC-qualifying expenditure during the basis period of the qualifying YA;
  • Active business operations in Singapore; and
  • Employed and made CPF contributions for at least three local employees. These three local employees must not be sole-proprietors, partners and shareholders who are directors of the company.

For more information, please refer to http://iras.gov.sg/irashome/PIcredit.aspx


SkillsFuture Credit (For Singaporeans Aged 25 and Above)

What is the SkillsFuture Credit?

SkillsFuture Credit aims to encourage individual ownership of skills development and lifelong learning. All Singaporeans aged 25 and above will receive an opening credit of S$500 from January 2016. Your credit will not expire and the government will provide periodic top-ups, so you may accumulate your credit.

What can I use it for?

Your SkillsFuture Credit can be used on top of existing government course subsidies to pay for a wide range of approved skills-related courses.

Explore the full list of approved courses at the SkillsFuture Credit Course Directory here.

How do I use it?

Take ownership of your self-development and career progression by planning your learning journey before using your SkillsFuture Credit.

You can use your credit to pay for or offset skills related course fees by applying for claim(s) starting January 2016. All eligible Singaporeans will be able to access their SkillsFuture Credit account via www.skillsfuture.sg/credit once they receive their account activation letter.