SINGAPORE – Individuals who wish to master a particular skill in an industry can stand to benefit from a new fund set up with the aim to help workers hone them. The new SkillsFuture Jubilee Fund, was announced by Prime Minister Lee Hsien Loong during his opening address at the inauguration of The Metropolis at One-North in Buona Vista today (Nov 3) and is aimed at reaching S$30 million.

Mr Lee said that the fund will be disbursed via study awards to eligible recipients already in the workforce. The Government hopes to attract donations from employers and unions and will match dollar-for-dollar.

The fund is an initiative under the SkillsFuture Council, a new body announced after the National Day Rally in August, chaired by Deputy Prime Minister Tharman Shanmugaratnam. The council was created after this year’s National Day Rally tasked to spearhead efforts to “develop the skills of the future”. In his speech, Mr Lee described the setting up of the council as a “long-term effort” and a “continuing journey”.

“It will ensure a strong emphasis on learning thoughout life, and create multiple pathways to success based on skills,” he said.

Among the donors is Mr Chua Thian Poh, chairman of Ho Bee Land, the estate developer behind The Metropolis. Mr Lee expressed his delight at Mr Chua’s donation of S$5million: “Together with the government’s matching amount, (it) will create opportunities for our workers to pursue their drems and scale greater heights”.