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ALL Singaporeans aged 25 and above will each get a SkillsFuture Credit of S$500 from 2016, said Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam on Monday.
This is an initial amount and the government will make further top-ups at regular intervals. The credits, which won't expire, can only be used for education and training.
The SkillsFuture Credit can be used for courses supported by government agencies, such as those offered by Institutes of Higher Learning and accredited education and training providers.