July 08, 2019
Post-Secondary Education Account can be used for selected SkillsFuture courses since 2016
We refer to Mr Kevin Tan’s letter, “Extend Post-Secondary Education Account use to more courses”, July 3.
Before 2016, the use of PSEA was limited to full-time subsidised programmes offered by our public education institutions. In 2016, the Ministry of Education (MOE) expanded PSEA coverage to better support Singaporeans in their pursuit of skills acquisition and upgrading. The PSEA can now be used for other government-subsidised courses offered by public and private agencies, including subsidised programmes eligible for SkillsFuture Credit support.
The Ministry of Education continues to review the list of courses eligible for PSEA funding. Quality is the key consideration. Training providers can apply for their courses to be considered for inclusion in the list of PSEA-approved courses.
The primary objective of the PSEA is to support young Singaporeans in attaining a post-secondary education. Therefore, the PSEA balance is transferred to the CPF Ordinary Account for other uses when one turns 30. Nonetheless, those who require the use of PSEA funds beyond 30 years old can write in to the ministry for an extension.
We thank Mr Tan for his suggestions.
Mr Clarence Tang
Divisional Director, Finance and Procurement
Ministry of Education