Launched in 2015, the SFC aims to encourage individual ownership of skills development and lifelong learning. All Singaporeans aged 25 and above will receive an opening SFC of $500 ("Opening SFC"). The opening credit will not expire and individuals can use their credit for a range of eligible courses listed on the MySkillsFuture portal. On 1 October 2020, the Government provided a one-off SFC top-up of $500 for all eligible Singaporeans aged 25 or above by 31 December 2020. Termed as the "One-Off SkillsFuture Credit Top-Up", these credits will expire on 31 December 2025. At the same time, the Government also provided Singaporeans aged 40 to 60 (inclusive) as of 31 December 2020 an additional $500 credit ("Additional SkillsFuture Credit (Mid-Career Support)"). From 1 May 2024,the Government will provide Singaporeans aged 40 and above an additional $4,000 credit ("SkillsFuture Credit (Mid-Career)"). At the same time, the Government lifted the expiry date of the Additional SkillsFuture Credit (Mid-Career Support) i.e. it will not expire when it reaches its maturity date on 31 December 2025. The remaining credit balance from the Additional SkillsFuture Credit (Mid-Career Support) has been merged with the top-up of $4,000 to form the new SkillsFuture Credit (Mid-Career). For example, if you are an individual who was aged 40 and above as of 1 May 2024, and have used $300 from your Additional SkillsFuture Credit (Mid-Career Support) account, your balance of $200 will be brought over to your new SkillsFuture Credit (Mid-Career) account. You will therefore see a total of $4,200 in your SkillsFuture Credit (Mid-Career) account.