Money

KISS: Keep it sweet and simple

I think everyone wants to know how they can use that $500 the G will give under SkillsFuture and for what sort of training. I guess the details are going to be worked out. Already there are calls to expand the programme, so that senior citizens can pick up new hobbies, for example. Already there are complaints that the money is too little for any real specialized training. Most people forget that some courses are subsidized and if you are above 40, the courses are subsidized 90 per cent and that $500 might well be enough to defray the cash portion.

Thing is, we have to be clear what SkillsFuture is for. It’s not to take up any old course but to help advance your current skills set and for those in a rut, pick up skills that might help them move into a second career. In fact, I can imagine a whole new industry of trainers of basic and esoteric skills asking for WDA accredition so that their courses will come under the SkillsFuture.

So the idea is to have individuals take control over their own training although how they are going to get time-off from their employers is another thing altogether. Seriously, SkillsFuture is useful for those who are already thinking of going for courses and can work out the timing on the own. For the vast majority, they will have to be pushed. Or their bosses have to be pushed.   Methinks it makes better sense to expand the current incentives for companies to send their employees for training and have the G pick up even more of the tab for this. Okay, I know this will be unpopular but there should be a bond attached so that workers won’t jump ship after they get another certificate or diploma. I’m sure that is a reason employers balk at sending their workers for training – best to get the most out of their workers NOW than waste time getting them trained for some other boss.

Not so long ago, the NTUC suggested setting up a SkillsSave account for every worker. I suppose the SkillsFuture programme is something like this. I think the G should go further and consolidate all its “training’’ programmes into one – from cradle to grave. So there is the Child Development Account run by the Ministry of Social and Family Development, which morphs into the Post-Secondary account run by the Education ministry and now SkillsFuture run by the Manpower ministry. Doesn’t it make better sense for all these schemes to come under an individual’s name? And on retirement age, what leftover will go into….voila! the CPF Retirement Account!

I mean, wouldn’t it be wonderful for citizens not to have to remember so many things and have the G streamline as many of its policies as possible and adopt its much vaunted whole-of-government approach?

Further reading

News Reports

Everybody is reading tea leaves again. You can be sure that every time the Prime Minister opens his mouth from now, people will speculate...

Money

My class of undergraduates told me recently that they had to do a compulsory module to get themselves “future-ready’’. They told me of how...

Money

Some people want it to be permanent. Some want it tracked more closely to prevent abuse. Some people think it hasn’t achieved its aim...

Money

First, an announcement: Sin taxes have NOT been raised. I guess that’s a small reprieve for those who smoke and drink, especially those who...

© 2022 Bertha Henson

Exit mobile version