To strengthen workforce resilience and business transformation, Prime Minister Lawrence Wong has announced an additional funding boost of S$200M to NTUC’s Company Training Committee (CTC) Grant in his Budget 2025 statement, underscoring the government’s commitment to supporting companies in training and upskilling their employees amid an evolving economic landscape. The grant will now also cover employer-led training that leads to formal qualifications for workers.
The top up to CTC Grant answers NTUC Secretary-General Ng Chee Meng’s earlier call to the Government for a boost to the CTC Grant, while highlighting its demonstrated benefits for both workers and businesses. Acknowledging NTUC’s role in promoting job security, this enhancement will further expand these efforts.
Prior to the Budget statement, Ng had emphasized the need for sustained funding to ensure that more companies and workers could benefit from structured career development and enhanced job security.
“The CTC initiative has been a game changer in helping companies transform while ensuring that workers grow alongside these changes. With 85% of the initial S$100 million already deployed, a top-up would allow us to support even more companies and workers in achieving sustainable wage growth and future-ready skills,” said Mr Ng.
CTC Grant: Delivering Tangible Results for Workers and Businesses
The CTC Grant has played a pivotal role in enhancing workforce capabilities, with nearly 200,000 workers benefiting from skills training initiatives. Since its launch, the grant has driven meaningful progress in key areas:
- Extensive Skills Training: Nearly 200,000 workers have benefited from skills training initiatives under the CTC framework.
- Higher Wage Growth: Workers who underwent these initiatives received an average wage increase of 5% above their annual increments, demonstrating tangible benefits from upskilling efforts.
- Upskilling and Career Advancement: Workers were trained in future-ready skills, improving job security and career mobility.
- Business Competitiveness: Companies adopted technology, optimized workflows, and implemented job redesign strategies that boosted productivity.
- Stronger Employer-Worker Partnerships: By aligning workforce training with business needs, companies built a resilient, skilled workforce ready for future demands.
Launched in 2022, the CTC Grant was designed to help companies embark on transformation projects that enhance business efficiency and create better career prospects for workers. The initial S$100 million grant co-funded companies’ workforce transformation initiatives, covering up to 70% of project costs related to job redesign, digital adoption, and training.
Additionally, over 260 companies have successfully implemented transformation projects, positively impacting more than 7,400 workers.
With this enhanced funding, Singapore’s workforce will be better positioned to navigate the challenges of an evolving global economy. The CTC initiative reaffirms the government’s commitment to sustainable wage growth, meaningful upskilling, and business innovation.
“I will set aside additional funding of around S$200 million for NTUC’s CTC grant, to help more companies transform. We will also expand the CTC grant to support employer-led training that leads to formal qualifications or certifications,” said Mr Wong.
Other Worker related announcements you should know about:
- Senior Employment Credit (SEC) will be extended to 2026 to encourage companies to hire and retain senior workers.
- Senior Workers aged from 55 to 65 will see higher CPF contribution rates to help them build up their retirement savings.
- SkillsFuture Jobseeker Support scheme will kick off in April 2025, strengthening support for workers who have involuntarily lost their jobs to get back on their feet.
These support schemes are among key calls by NTUC’s Labour MPs over the years and adopted by the Government, demonstrating the strength of Singapore’s Tripartism —where the Government, NTUC, and employers work together to uplift businesses and workers.
Budget 2025 for Workers – Onward Together for a Better Tomorrow
NTUC has always been at the forefront of worker protection and skills development, ensuring that policies remain pro-worker while supporting business transformation.
As the nation moves forward, this investment in people and businesses ensures that Singaporeans continue to grow, progress, and thrive—onward together towards a brighter and more resilient future.
