Singapore will launch the SkillsFuture Jobseeker Scheme Program to help the estimated 60,000 residents who lose their jobs each year. The program is targeted at those who previously earned up to S$5,000 (US$3,836) per month and will provide support of up to S$6,000 (US$4,500) over six months.
The program, estimated to cost S$200 million annually, marks a significant shift for the Singapore government, which has been reluctant to implement unemployment insurance. The program is expected to begin in April.
Who Can Apply?
The assistance program is open to individuals aged 21 and above who are Singapore citizens or permanent residents. Other eligibility criteria include having a maximum income of S$5,000 per month in the past year and having worked for at least six months during that period.
However, there is a special exemption for those who have recently lost their jobs. While the usual requirement is to have worked for at least six months in the past year, this rule does not apply to those who lose their jobs on or after April 1, 2024. Therefore, they will still be eligible for assistance.
Program participants must also live in a household with an annual income not exceeding S$25,000. The program is intended for those who have lost their jobs due to circumstances beyond their control, such as redundancy or illness.
In addition, applicants must not have received assistance under this scheme in the past three years. Assistance will cease once the recipient finds new employment, and they cannot apply again for three years.
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Monthly Payment Scheme
This assistance scheme implements a gradual payment system with a decreasing monthly allocation. Participants will receive a maximum of S$1,500 in the first month, then the amount will gradually decrease to S$750 in the last three months, with the total assistance amounting to S$6,000.
In addition, there is a cap on the monthly assistance amount, which is equal to the recipient's last drawn salary. This means that the assistance will not exceed their last salary.
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Combining Financial Assistance with Job Training
This new program for the unemployed not only provides financial assistance, but also requires recipients to engage in job search and training.
Under the Level-Up SkillsFuture program, registered Singaporean citizens can receive a monthly training allowance of up to S$3,000 for a maximum of 24 months, based on 50 percent of their average income over the previous 12 months.
However, further details on training and career guidance will be announced closer to the scheme's launch in April 2025.
