Financial Training Scheme (FTS)
The Financial Training Scheme (“FTS”) is a training incentive scheme supported by the Financial Sector Development Fund (FSDF). The scheme supports financial sector-specific training programmes that raise the competency of the financial sector. All our programmes are approved for listing on the Financial Training Scheme (FTS) Programme Directory and are eligible for FTS claims, subject to all eligibility criteria being met.
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 programme fee charged by the external training provider or apportioned basic salaries of internal staff involved in developing and/ or delivering in-house programmes.
For all FTS programmes commencing on or after 1 July 2016:
- 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).
Please refer to www.ibf.org.sg for more information.