Skill Future Enterprise Credit (SFEC)
The SkillsFuture Enterprise Credit (SFEC) encourages employers to invest in enterprise transformation and capabilities of their employees. Eligible employers will receive a one-off S$10,000 credit to cover up to 90% of out-of-pocket expenses on qualifying costs for supportable initiatives, over and above the support levels of existing schemes.
Why choose us
A confident vision and objective to meet the future.
To have most of our clients with us for more than 10 years and we believe that our continued success can help you in your business.
Our main objective is to help businesses to achieve their personal and business financial goals and save you money in the process.
We sit on the same side of the table as YOU to provide business solutions to business problems – we listen to your business problem and offer strategies to resolve the problem and achieve your objectives.
WHAT DOES THE SFEC SUPPORT
The $10,000 credit can be used in the following 2 categories
Enterprise Transformation (up to $7,000 only)
Enterprise Development Grant (EDG)
Market Readiness Assistance (MRA)
Productivity Solutions Grant (PSG)
Companies that have successfully received partial funding through the above programs, can further claim up to 90% of the unfunded portion. However, only a maximum of $7,000 SFEC credit can be used under this category.
Employer decides to enhance its productivity through automation and applies for Productivity Solutions Grant (PSG)
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Less PSG 80% funding
Less SFEC 90% funding
2. Workforce Transformation (up to the full $10,000)
Courses aligned to the various Industry Skills Frameworks by SkillsFuture Singapore (SSG)
Job redesign initiatives
Professional Conversion Programmes by Workforce Singapore (WSG)
Employer sends its employees for relevant Skills Framework-aligned courses under the
‘Workforce Transformation’ supportable programme.
Full Fee of Training
Less SSG Course Fee Subsidy (90%)
(Capped at $25/hour)
Less SFEC Disbursement (90%)
Eligibility & Application
What is the eligibility criteria for Skill Future Enterprise Credit (SFEC)
1 April 2019 – 31 March 2020
1 July 2019 – 30 June 2020
1 October 2019 – 30 September 2020
1 January 2020 – 31 December 2020
In each of the qualifying periods, eligible employers who meet the following conditions will be notified in writing:
Have contributed at least S$750 Skills Development Levy over the period
Have employed at least three Singapore Citizens (SCs) or Permanent Residents (PRs) every month over the same period
Have not been qualified at any of the earlier periods
How do employers apply for SFEC?
There is no need to apply for SFEC. Employers that fulfil the eligibility criteria will be informed by Enterprise Singapore in writing.
The Credit will be used to subsidise supportable projects or courses that these employers successfully apply for.
More details will be released subsequently to eligible employers
Frequently asked questions
As an employer, if I am liable to pay at least $750 SDL for a qualifying period but I did not pay up on time, can I still be eligible for SFEC?
SDL contributions (including arrears payments) made after the closure of the respective qualifying period will not be considered for SFEC eligibility. Only contributions for the current and upcoming qualifying periods will be considered.
Are employersrequired to maintain the minimum $750 Skills Development Levy contribution and employ a minimum of 3 Singapore Citizens (SCs) or Permanent Residents (PRs) after qualifying for the SFEC?
An employer who qualifies for the SFEC at any of the four qualification periods will be eligible for the SFEC credits for the duration of the programme. No further checks on eligibility will be conducted subsequently.
Can non-business entities* qualify for SFEC?
• While SFEC is open to all employers who meet the qualifying criteria, SFEC can only be used on programmes or courses where the base programmes or courses are eligible to the entities.
Is a training plan still required (as it was under the Productivity Solutions Grant (SkillsFuture Training Subsidy) for using SkillsFuture Enterprise Credit (SFEC) to defray the employers expenditure on training?
• No, a training plan will not be required under the SFEC. Employers that meet the SFEC criteria will be informed of their eligibility, and can start to apply for the supported training programmes from 1 April 2020. They can obtain reimbursement under the SFEC from 1 April 2021.
When do employers need to embark on the supportable programmes in order to utilise SFEC?
• Upon qualification, employers will be able to use SFEC on supportable programmes applied on or after 1 April 2020.
Will the unused credit be reimbursed to the employer upon expiry of the scheme?
Upon expiry of the scheme, the unused Credit will be forfeited.
What will happen to the Productivity Solutions Grant (SkillsFuture Training Subsidy) with the launch of SFEC?
• Both PSG (SFTS) and SFEC have the common objective of supporting employers, especially SMEs, to invest in their transformation and the capabilities of their workers in tandem.
What types of courses are eligible for SFEC?
• In general, courses or programmes eligible for SFEC must demonstrate support for enterprise or workforce transformation. For example, courses mapped to the various industry Skills Frameworks will be eligible for SFEC. These courses must receive course fee funding from a Singapore government agency or be conducted by a Singapore government agency.
I am a training provider with courses that are funded by another government agency (e.g. IMDA). Are these courses eligible for SFEC?
Government agency-funded courses are eligible for SFEC. Training providers will need to work with the respective government agencies to get their courses eligible for SFEC.
Why is the list of SFEC approved courses more limited than the list of SkillsFuture Credit courses?
• The SFEC is focused on training to support productivity improvements and enterprise transformation. The approved courses therefore must demonstrate support for enterprise or workforce transformation. This includes taking reference from skills and competencies identified in the Skills Frameworks, which are co-developed with the employers, industry As at 1 Apr 2020 Page 5 of 7 partners, unions, and economic agencies. These courses must receive course fee funding from a Singapore government agency or be conducted by a Singapore government agency.
Will there be courses for sectors currently without Skills Frameworks?
• SSG will continue to work with agencies in sectors without Skills Frameworks to identify and approve industry-relevant courses for the SFEC.
I am a training provider with courses eligible under the Productivity Solutions Grant (SkillsFuture Training Subsidy) currently. How will the launch of the SFEC affect the eligibility of my courses?
Existing eligible courses under PSG (SFTS) will automatically be eligible for SFEC. As such, no further action is required on your end. The list of approved courses can be found at the Enterprise Portal for Jobs and Skills (enterprisejobsskills.sg).
When can employers receive the SFEC reimbursement?
The SFEC will be reimbursed directly to employers from 1 April 2021
How should I make a claim for the supportable programmes in order to utilise SFEC?
• The final claim for the projects or courses have to be submitted by 30 June 2023. Employers are required to follow the claim processes and requirements indicated by the respective agencies for the SFEC-supportable programmes.
What is the claims process for training courses under the SFEC?
The SFEC claims process for training courses is still being finalised and more details will be released in due course.
How will employers receive the SFEC reimbursement?
• Credit reimbursement will be by GIRO or Paynow payment to the employer’s company account as registered with IRAS.
Can employers choose which programmes to utilise the SFEC credit?
Credit disbursement will be based on final claims that are processed on a “first-come-firstserved” basis. More details will be released to eligible employers.