In-employment - Sponsorship

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Polytechnic Talent for Finance Scheme (PTFS)
In-employment - Sponsorship

Polytechnic Talent for Finance Scheme

The Polytechnic Talent for Finance Scheme (PTFS) is a talent development initiative supported by the Financial Sector Development Fund (FSDF). Its objective is to encourage financial institutions (FIs) to hire and train more polytechnic students and graduates to improve employment outcomes for polytechnic graduates in the financial services sector. The scheme comprises three tracks for FIs to attract polytechnic students and graduates at three stages of their career journey.

Pre-employment - Internship

Upon Graduation - Apprenticeship

In-employment - Sponsorship

Overview

What is the Sponsorship Track?

The Sponsorship Track under the Polytechnic Talent for Finance Scheme aims to support finance professionals who are diploma holders who want to pursue post-diploma and degree-equivalent programmes to do so whilst in employment.

Eligibility

Financial Institutions based in Singapore ^[1].
Eligible programmes must be post-diploma or degree-equivalent programmes, and endorsed by the sponsoring FI to be relevant to the participant’s current or potential job role.
Eligible participants must be Singapore citizens (SCs) who are recent graduates ^[2]of a polytechnic ^[3], and not possess any post-diploma or degree-equivalent qualification.
Eligible participants must have applied for or commenced the post-diploma or degree-equivalent programme between 24 April 2023 and 30 April 2026 (inclusive).
Eligible participants must remain in employment with the sponsoring FI during the course of the programme and serve a bond of at least 1 year with the sponsoring FI after completion of programme.
If the sponsoring FI wishes to impose a longer bond of another one year or more, the FI should co-fund at least 40% of the individual’s tuition fees (capped at $10,000), in addition to FSDF’s funding.

Funding Support

For each SC: 50% of tuition fees, capped at S$10,000

How to Apply

Please complete this form if your Financial Institution would like to participate in the Sponsorship track of the Polytechnic Talent for Finance Scheme. Submission of this form does not guarantee funding.

Subject to the fulfilment of all eligibility criteria, funding for approved claims will be disbursed on a reimbursement basis, after the participant has completed the programme and served the one-year bond with the sponsoring FI.

Applicants are required to submit your claim application within three months of the completion of the one-year bond with applicant by the participants. If you have met the eligibility requirements, please download the claims form from the resources section and send the completed form to [email protected] for our evaluation. For late submissions, the applicant bears the risk of no funding.

Applicants are required to provide details of how the applicant is supporting the participants in their programmes, for example, co-fund the remaining tuition fees, offer other financial incentives (e.g., study allowance), special work arrangements (e.g., study leave).

The applicant is to ensure that documents and information submitted are true, accurate and complete. IBF may request for additional information to support its evaluation of the claim application.

Download Resources here:

PTFS Infographic (Sponsorship)

PTFS Factsheet (Sponsorship)

PTFS FAQS (Sponsorship)

PTFS Claims Form (Sponsorship)

Footnotes:

^[1] Entities regulated by the Monetary Authority of Singapore (either licensed, approved, registered or recognised; or exempted from being licensed, approved, registered or recognised) as listed on MAS FI Directory.

^[2]Recent graduates refer to those who have graduated from a polytechnic, or completed National Service after graduating from a polytechnic, within 3 years from the date of commencement of the post-diploma or degree-equivalent programme.

^[3] Refers to the following polytechnics: Nanyang Polytechnic (NYP), Ngee Ann Polytechnic (NP), Republic Polytechnic (RP), Singapore Polytechnic (SP) and Temasek Polytechnic (TP).

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