IBF Standards Training Scheme (STS)

The IBF Standards Training Scheme ("IBF-STS") provides funding for training and assessment programmes accredited under the Skills Framework for Financial Services.

Courses available for IBF-STS Funding:

Enterprise Architecture Skillsets
- Certificate of Fundamental Understanding in Aligning IT with Business (Business IT Architecture Fundamental training)

Enhanced Funding Support for IBF-STS and IBF Credit

MAS will enhance course fee subsidies for locals attending accredited or recognised courses up to 90%. IBF will provide an additional 5% in support in the form of IBF Credit, bringing the course fee subsidy up to 95%. This existing scheme will also be expanded to include workers in eligible FinTech firms. 

Submission of Claims

For details on the claims submission process, please click here 

Financial Institutions and FinTech firms may email their queries to [email protected]

As announced by Manpower Minister Josephine Teo at Budget 2020, the SEP Support Scheme will provide Self-Employed Persons (SEPs) with a training allowance of S$7.50 per hour, from 1 to 30 April 2020, when they attend courses under the SkillsFuture series, as well as sector-specific training programmes. Updated as at 26 March 2020 - From 1 May 2020, the Government will bring up the hourly training allowance from S$7.50 per hour of training to S$10 per hour of training, as announced by Deputy Prime Minister Heng Swee Keat in his Resilience Budget speech. Read more

General Information on NTUC Training Fund (SEPs)

Application for NTUC Training Fund (SEPs)

SkillsFuture Credit aims to encourage individual ownership of skills development and lifelong learning.

All Singaporeans aged 25 or above will receive SkillsFuture Credit of $500 from January 2016.

On 1 October 2020, the Government will provide a one-off SkillsFuture Credit Top-up of $500 for all eligible Singaporeans aged 25 or above by 31 December 2020. Singaporeans aged 40 to 60 will also receive an Additional SkillsFuture Credit (Mid-Career Support) of $500 by 31 December 2020. These new SkillsFuture Credit provisions will expire on 31 December 2025. 

All Singaporeans (Self-sponsored) aged 25 and above can use the SkillsFuture Credit to pay for a wide range of approved skills-related courses. Visit the SkillsFuture Credit website www.skillsfuture.sg/credit for more information.

Financial Training Scheme (FTS)

The Financial Training Scheme ("FTS") provides funding for financial sector-specific training programmes which are recognized under FTS.

Enhanced support for FIs and Individuals

In light of the economic challenges arising from COVID-19, MAS announced support of up to S$90 million, to encourage financial institutions and individuals to make use of the downtime for training and deepening of skills.
These include:
(1) Enhancements of course fee subsidies for FTS courses
AND
(2) Training Allowance Grant for locals who participate in FTS courses

1) Enhanced Funding Support for FTS 

MAS will enhance course fee subsidies for locals attending accredited or recognised courses up to 90%. This existing scheme will also be expanded to include workers in eligible FinTech firms. 

*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. 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.

(2) Training Allowance Grant

The Training Allowance Grant (TAG) aims to help Financial Institutions, FinTech firms and Insurance companies manage manpower costs and support the skills upgrade of their employees. 

TAG will only be disbursed to the sponsoring company upon the participants’ successful completion of the FTS programme. 

Submission of Claims

For more details about the enhanced funding support and claims process please refer to the FAQ here. 

Financial Institutions and FinTech firms may email their queries to [email protected]

Courses available for FTS Funding:

Enterprise Architecture Skillsets
- Certificate of Fundamental Understanding in Aligning IT with Business (Business IT Architecture Fundamental training)
- IASA Foundation Certified (Architecture Core training)
- Associate Certificate in Business Technology Strategy (Business Technology Strategy training)
- Associate Certificate in Infrastructure Architecture (Infrastructure Architecture training)
- Associate Certificate in Software Architecture (Software Architecture training)
- Associate Certificate in Business Architecture (Business Architecture training)
- Certificate of Fundamental Understanding in Architecting Software Using Object Oriented Analysis & Design (Architecting Software with Object Oriented Analysis and Design training)
- Associate Certificate in Information Architecture (Information Architecture training)
- Associate Certificate in Solution Architecture (Solution Architecture training)


Enterprise Architecture Framework and Modeling Language

- Archimate® 3 Foundation and Practitioner 
- TOGAF® 9 Certified 

-  ITIL4® Foundation Certification
- ITIL4® Managing Professional Certification