What is the Financial Training Scheme?
The Financial Training Scheme ("FTS") provides funding for financial sector-specific training programmes which are recognized under FTS.
Funding Quantum
The FTS provides 50% funding for direct training costs subject to cap of S$2,000 per participant per programme. Direct training cost would be based on the gross programme fee charged by the external training provider or apportioned basic salaries of internal staff involved in developing and/ or delivering in-house programmes.
Singapore Citizens aged
40 years old and above will be eligible for
90% co-funding of direct training costs, subject to existing grant caps of S$2,000 per programme. Singapore Permanent Residents will continue to be eligible for 50% co-funding of direct training costs for FTS programmes.
Qualifying expenses include training costs incurred for both executive and non-executive staff, as well as staff employed on a short-term basis (less than one year, inclusive of contract staff and interns). Apportioned basic salaries of
full time in-house trainers involved in developing and/or delivering in-house programmes will also be eligible for support.
Eligible Programmes
A list of eligible FTS-recognised external programmes can be found in the
Programme Finder.
If you are a Financial Training Provider or Financial Institution, click
here to find out how you can get your programmes recognized under FTS.
Eligible Participants
This scheme is only eligible for
company-sponsored participants who are Singapore Citizens or Singapore Permanent Residents, physically based in Singapore, and who have successfully completed a FTS programme.
Financial Institutions (MAS licensed or exempt entities), involved in or supporting financial sector activities, are eligible to submit claims for company-sponsored participants.
Please refer to the
Information Note for further details on funding and eligibility criteria.
Submission of Claims
Click
here for information on claims submission.
