Overview
- Financial Institutions based in Singapore [1] .
- Eligible programmes, new or existing [2], must contain the following components:
- Rotations across projects or tasks;
- Structured training (e.g., classroom training, e-learning); and
- Mentorship programme.
- Eligible programmes must be of a minimum duration of one year and are recommended to be no longer than two years.
- Eligible programme participants must be Singapore citizens (SCs) who are recent graduates [3] of a polytechnic [4].
- Only SC hires will be supported.
- Participants must be hired into the programme on a contract [5] or permanent basis.
- For additional salary support, the participant must be emplaced into a university-graduate equivalent role [6] within 3 years from the commencement of an approved programme.
For each qualifying apprentice hire:
- Salary support of S$1,000 per month of programme (up to 12 months); S$2,000 per month of programme (capped at 12 months) for programmes in the following priority areas [7]
- Portfolio management
- Private banking and wealth management (including family office advisory)
- Research, trading and investment strategy
- Actuarial
- Reinsurance and specialty insurance
- Green finance
- Technology, digital and data analytics
- Additional salary support at the same funding level [8] (up to 12 months) following emplacement of apprentice into university graduate-equivalent role.
Please download the PTFS application form (Excel format) and submit
the completed form via FormSG (Please find the link
below).
Apprenticeship programme
- Applications should be submitted at least two months before the start of the programme. For late submissions, or if the programme commences prior to approval, the applicant bears the risk of no funding.
- Applicants are required to submit the detailed training schedule (including plans for rotation, structured training and mentorship) under their apprenticeship programme.
- Applications must be submitted by 30 April 2027.
- Funding for approved applications will be disbursed on a reimbursement basis. More details will be outlined in the Letter of Offer provided to successful applicants.
- Claims submission for approved applications should be made as per claims schedule found in the Letter of Offer issued to successful applicants.
Post-apprenticeship
- Subject to the fulfilment of all eligibility criteria, funding for approved claims will be disbursed on a reimbursement basis, after the apprentice has been emplaced into a university graduate-equivalent role.
- FIs are required to submit their claims application within three months from the end of the 12-month period that the apprentice had been in a university graduate-equivalent role or when he/she leaves the firm (whichever is earlier). For late submissions, the applicant bears the risk of no funding.
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.
[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] Refers to the following polytechnics: Nanyang Polytechnic (NYP), Ngee Ann Polytechnic (NP), Republic Polytechnic (RP), Singapore Polytechnic (SP); or Temasek Polytechnic (TP).
[3] For contract role, the minimum contract duration must be one year.
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