SkillsFuture Credits for Courses Leading to Professional Certifications for Financial Services

Mr Don Wee asked the Minister for Education whether SkillsFuture credits can be utilised to support Singaporeans in pursuing professional certifications, such as the Singapore Chartered Accountant Qualification (SCAQ), Chartered Financial Analyst (CFA) and Institute and Faculty of Actuaries (IFOA) examinations to enhance their career prospects and professional development.

Mr Chan Chun Sing: The SkillsFuture Credit base tier, which comprises the opening credit of $500 and a one-off top-up of $500 in 2020, can be used to cover over 200 examination-only certifications. To ensure prudent use of the credit, these certifications must be recognised by the industry and supported by the relevant public agency overseeing the sector.

Individuals who completed industry-relevant certifications that are not within this approved list of certifications on the MySkillsFuture Portal can write in to SkillsFuture Singapore to appeal for a reimbursement of their examination fees, using their base tier credit. This allows us to support professional certifications, such as the ones mentioned by the Member, where the certification body is based overseas or has not registered with SkillsFuture Singapore.

We will continue to review how the SkillsFuture Credit can support industry-relevant training and certifications.