Why is the SkillsFuture Mid-Career Training Allowance capped at 50% of one’s average monthly income, and capped at $3,000 a month?

Question

Accepted Answer

The intent of the training allowance is to partially address the income loss. The training allowance is aimed at providing enough coverage for the median mid-career worker, while preserving the incentive for them to return to work.

Why is the SkillsFuture Mid-Career Training Allowance capped at 50% of one’s average monthly income, and capped at $3,000 a month?

Related questions

How will the SkillsFuture Mid-Career Training Allowance be computed?

I received an email notification that my eligible SkillsFuture Mid-Career Training Allowance is $0. Why is this so?

The estimated SkillsFuture Mid-Career Training Allowance computed by the Training Allowance Calculator is $0. What does this mean?

I am eligible for up to $3,000 per month, capped at 24 months’ lifetime cap. Does this mean that I will have $72,000 in my TA account? Where can I see this balance?