Skills Future Credit..not transferable at death; not your money if you do not spend it…; S$100 Singapore Rediscovery Voucher, ended if not redeemed by 31st Dec 2021.

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SkillsFuture fund is not transferable at death.

How much has been transferred to the Consolidated Fund to date?

Singaporeans should be reminded to use the fund. But not all can.

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The Straits Times’ Editorial says

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Reskilling needs collaborative efforts

PUBLISHED 10 HOURS AGO on 11th Feb 2022 in ST.

Six years on from its inception in 2015, the SkillsFuture movement – Singapore’s signature initiative to promote lifelong learning – has moved into higher gear.

Last year, about 660,000 people took part in initiatives supported by SkillsFuture Singapore (SSG), an increase of 22 per cent over 2020, while the number of people who spent their SkillsFuture credits rose 31 per cent to 247,000.

The benefits are showing. According to SSG, courses related to skills in IT, healthcare and professional services, which saw the highest demand, led to good employment outcomes. More companies have also come on board.

The number of enterprises that took part in SSG programmes jumped more than 70 per cent last year to around 24,000, while more than 10,000 companies used their SkillsFuture enterprise credits to enrol their employees for training.

Changing work arrangements during the Covid-19 pandemic was no doubt one of the catalysts for the heightened interest in what SkillsFuture has to offer. Many workers who were furloughed or laid off were motivated to retrain.

More companies also went digital, which led to new job roles, requiring new skills. But the need for reskilling will long outlast the pandemic. According to the World Economic Forum, more than 40 per cent of workers globally will need reskilling by 2025. The demand for skills is also changing rapidly. For instance, research by the consulting firm Gartner found that about one-third of the skills required for the average job posting in 2017 were no longer necessary in 2021.

Despite the encouraging results shown by SkillsFuture, there is still a long way to go. The majority of workers have yet to use their SkillsFuture credits and less than 10 per cent of the roughly 280,000 small and medium-sized enterprises in Singapore have participated in SSG programmes.

About two-thirds of companies are still in the early stages of digitalisation and will need new skills as they progress on their journey. Corporate participation is especially critical for broad-based reskilling of the workforce, because workers on their own may not always be able to make the choices that are relevant to companies or lead to fulfilling careers.

Companies must also step up their own in-house training. They will need to map their employees’ talents and identify where the gaps are – not only for present, but also future roles. They will also need to develop appropriate courses and commit funding for retraining on a sustained basis.

Additionally, educational institutions, including universities, must revise their curricula and their target markets to cater for lifelong learning. ‘

Making the Singapore economy future-ready in terms of skills will therefore need a collaborative effort involving workers, companies and educational institutions. The SkillsFuture initiative has the potential to bring them together.

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.Last-minute dash to use Singapore Rediscovery vouchers before 2022 overwhelms servers, bookings cancelled after confirmation

Not a good way to start off the new year.

Zi Shan Kow| January 01, 2022, 11:56 AM in Mothership.sg

Many Singaporeans hoping to redeem their S$100 SRV on the last day of the year 2021 found themselves staring at a circular buffer, a non-functional website, or behind a long queue of people trying to troubleshoot issues with their booking.

Others complained that their bookings were cancelled after receiving confirmation of the booking number and having paid for the tickets.

Server error

The Singapore Tourism Board (STB) had already said on Dec. 30, 2021 that SRV physical counters and authorised booking partners “have been experiencing a high volume of traffic” as it was nearing the deadline for redemption.

The number of people making a mad dash to use the vouchers predictably soared as the deadline loomed.

Mere hours before the deadline, more and more users complained that they were facing issues with the website.

In a comment to the Dec. 30, 2021 Facebook post, STB explained that the “late rush to make online bookings resulted in some users experiencing technical difficulties”, despite anticipating the volume of requests and putting in additional resources and technical support.

Deadline extended by 1 hour

With the rush to use tickets still not ceasing, the deadline had to be moved back by one hour.

On the comment posted at 11:58pm, STB said the deadline for online bookings was extended until 1am, 1st Jan 2022.

Screenshot via Singapore Tourism Board/FB.

Image via a Mothership reader.

The extension allowed some users to successfully process their bookings past midnight, but many transactions could not go through.

Screenshot via Singapore Tourism Board/FB.

Screenshot via Singapore Tourism Board/FB.

This prompted many commenters on the Facebook post to ask for a longer extension in light of the issues with booking.

Screenshot via Singapore Tourism Board/FB.

Screenshot via Singapore Tourism Board/FB.

Bookings cancelled

Even after bookings were made successfully, some customers were unhappy after realising that their bookings were cancelled shortly after.

Screenshot via Singapore Tourism Board/FB.

Screenshot via Singapore Tourism Board/FB.

Screenshot via Singapore Tourism Board/FB.

Screenshot via Singapore Tourism Board/FB.

Commenters chide people for booking last minute

Given how the deadline for redeeming the SRV have been extended multiple times, some joined in on the comments section of the Facebook post to gloat and chide those trying to pull off last-minte bookings.

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Skills Future Credit..not transferable at death; not your money if you do not spend it…;

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It is not your money unless you use it…..not say consume it.

If you do not use it, it will go with death. It is not transferable.

Where does it go back to?

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Forum: SkillsFuture monitors course quality through surveys

PUBLISHED4 HOURS AGO on 2nd July 2021 in ST Forum

We refer to Mr Luo Siao Ping’s letter, “Feedback on subsidised training courses needs looking into”, on June 23.

We thank Mr Luo for his feedback and have also separately clarified with him that we responded to his feedback on March 24, 2021. The training provider has also taken on-board his feedback.

SkillsFuture Singapore (SSG) places emphasis on the quality of courses that we support.

We collect trainees’ feedback through surveys on the last day of training.

Feedback is also obtained through an outcomes survey six months after the training is completed.

The survey results are shared with training providers to let them improve their course offerings and are also used by SSG to review our training partners.

SSG values feedback from participants at any point of their training.

Feedback is shared with the training providers especially where it pertains to course administration matters like the scheduling of lessons.

This enables SSG and the training providers to promptly assess the course conduct and training experience, and make improvements where needed at appropriate junctures.

Tracy Lee

Director, Industry Development Division 2

SkillsFuture Singapore

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SkillsFuture Credit..not transferable at death. And there is an expiry date for all to use it.

Those too old to use it, it will go with death. Not transferable.

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Forum: Annual SkillsFuture Credit top-ups, paid leave for courses would boost lifelong learning

PUBLISHED6 HOURS AGO on 13th July 2021 in ST Forum

I refer to the deal brokered at the Organisation for Economic Cooperation and Development to implement rules that would make multinational companies pay an effective rate of “at least 15 per cent” and give smaller countries more tax revenue from foreign firms (130 nations, jurisdictions back 15% global minimum corporate tax, July 2).

I agree with The Straits Times’ editorial that non-tax factors will be key in future to attract foreign direct investments (Non-tax incentives will be key in future, July 9).

Singapore is a small dot on the world map and is not endowed with any natural resources. The only resource that Singapore has is its people and workforce.

To build a more relevant and educated workforce to attract investments. I propose the following ideas:

First, Singapore should top up the SkillsFuture credits of all working Singaporeans annually instead of doing ad hoc top-ups. This would signify that learning does not stop when entering the workforce from school and that learning is a lifelong process instead of being one-off endeavours.

These credits should also not have an expiry date. The one-off $500 SkillsFuture Credit top-up which every Singaporean aged 25 and older received last year should not expire on Dec 31, 2025.

Second, Singapore should legislate into the Employment Act the mandatory provision of leave for employees to attend courses, for those who take up the call for lifelong reskilling and upskilling.

Employees usually have to use their own annual leave to attend courses and take examinations. This may deter employees from upgrading themselves.

Having paid leave to reskill and upskill themselves would encourage individuals to take ownership of their skills development and lifelong learning instead of leaving it in the hands of their employers, who may be more focused on the company’s immediate bottom line.

The tax deal could be implemented as soon as 2023. It is crucial for Singapore to look into revamping its approach towards lifelong learning to stay competitive and attractive to foreign investors.

Benjamin Ng C.K.

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SkillsFuture Credit Scheme…

Money in the SkillsFuture Credit account is not your money unless you spend it. Hope many will use it up if not it goes back to the govt.

FAQ, the link:

https://www.myskillsfuture.sg/content/portal/en/header/faqs/skillsfuture-credit.html

Item 5 of the FAQ:

Is SkillsFuture Credit a cash account? Will the credit earn interest?

SkillsFuture Credit is not a cash account and it will not earn any interest. The credit is non-transferable and lapses upon a change of citizenship or death.

The credit can be used to offset out-of-pocket course fees when attending approved courses.

You cannot withdraw cash from this account to pay your Training Provider as the transactions will be made directly through MySkillsFuture.

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For FAQ:

https://www.myskillsfuture.sg/content/portal/en/header/faqs/skillsfuture-credit.html?fbclid=IwAR1CnuxF00YvkxI7sYcFykeiNUE8rZ3V6EEbG-bgsc0BF5XkdMVCj69dP94

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SkillsFuture fraud: First syndicate member who stashed S$6.6 million in cash, 11kg of gold at home sentenced

By ALFRED CHUA

Published 27 NOVEMBER, 2018 in Today newspaper

SINGAPORE — The first of five individuals in a syndicate behind what is believed to be the largest defraudment of a public institution was sentenced to five years and eight months’ jail on Tuesday (Nov 27).

Lee Chi Wai, 32, pleaded guilty last week to three charges under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act. They include concealing more than S$6.6 million in cash and 11kg of gold, which formed part of the S$40 million allegedly disbursed as a result of bogus SkillsFuture claims.

Two other similar offences were taken into consideration for sentencing by District Judge Luke Tan.

Under the SkillsFuture Course Fee Grant scheme, a Singapore business entity may apply to government agency SkillsFuture Singapore (SSG) for subsidies if it has sent its employees for skills training courses with registered training providers.

Between May and October 2017, six firms and three training providers — which were all later found to be dormant entities — submitted 8,386 fraudulent applications for course fee grants, as well as 8,391 corresponding claims to SSG.

In total, the agency disbursed S$39.9 million to the nine companies, which were later traced to the syndicate.

Lee is the younger brother of Lee Lai Leng, 40, one of the key persons in the syndicate. Lee Lai Leng was married to Ng Cheng Kwee, described by prosecutors as one of the main perpetrators of the crimes.

The court heard on Tuesday that sometime around July 27 last year, Lee Lai Leng asked her younger brother for his bank account details, as well as details of his parents’ bank account.

She had done so because she said that her bank account “cannot have money”, prosecutors said.

In total, she transferred close to S$50,000 to her younger brother, who asked for piecemeal transfers to avoid raising any alarm.

On Sept 1 last year, before Ng and Lee Lai Leng went on a holiday, she handed her younger brother a bag containing S$930,000 in cash to safekeep in his home.

A few days later, Lee Chi Wai got wind of knowledge that his older sister and Ng were to receive S$1.4 million from bank withdrawals. He did not know then where the money came from.

He asked his older sister for a loan to buy a car for himself, and she agreed, transferring about S$30,000 to his account.

Around the same time, she bought a safe which was placed in her brother’s home in Sengkang.

By November that year, more than S$6.7 million in cash, as well as 11kg of gold — worth about S$626,000 — were in the safe.

On Nov 1 last year, Lee Chi Wai received a call from his sister, instructing him to “empty the contents in the safe and pass (them) to someone else for safekeeping”.

“(He) understood from (Lee Lai Leng’s) instructions that she wanted to conceal the cash and gold in order to evade detection,” the prosecution said.

He followed her instructions and moved the loot to a friend’s place, which were later seized by the authorities. It is not known if Lee Chi Wai’s friend has been dealt with by the law.

The next day, the siblings were arrested.

The court heard that Lee Chi Wai has made restitution of S$30,000 to SSG.

The prosecution, which urged the court to impose a sentence of at least 75 months, said that his restitution was made belatedly.

While he was charged in November last year, he only surrendered S$9,000 in August this year and another S$21,000 on Nov 23, a few days before he was to be sentenced.

“It should not be viewed as a sign of genuine remorse, but as (his) hope or expectation of obtaining a lighter punishment,” the prosecution added.

And while he did not play a main role in the scam, he had “significantly contributed to the scale of the offence” by helping to hide, as well as launder the cash and gold bars.

Defence lawyer Gino Hardial Singh argued that his client did not know the extent to which his older sister was involved in the larger scam.

“He knew something was wrong but didn’t know what really was going on,” Mr Singh said.

The cases of the other four individuals involved in the syndicate are still before the courts.

Last May, SSG introduced new guidelines for all claims of SkillsFuture Credit to be paid out directly to the training providers instead of to individuals.

It has also changed the guidelines to prevent training providers from using gimmicks such as lucky draws and freebies to promote their programmes.

The SkillsFuture Credit scheme, which gives Singaporeans aged 25 and above a S$500 credit to attend courses by approved training providers, was started in 2016.