Enhanced Support for Training (FTPs)

How long will IBF take to process the enhanced course fee subsidy and IBF Credit claim submitted for self-sponsored individuals?

IBF will take approximately approximately six to eight weeks from date of claim submission, if the documents submitted and accurate and complete. Longer processing time may be required in certain cases (e.g. incomplete or inaccurate submissions, Direct Credit Authorisation form not submitted to IBF or non-standard cases). As we are in the process of making system changes to the IBF Portal for the enhanced schemes, we will only be able to accept claims applications from 1 May 2020.

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How long will IBF take to process the Training Allowance Grant application submitted on behalf of self-sponsored individuals?

IBF will take approximately approximately six to eight weeks from date of claim submission to process an application. Longer processing time may be required in certain cases (e.g. incomplete or inaccurate submissions or non-standard cases). Please ensure that your trainees have linked their NRIC to their PayNow bank account to facilitate disbursement by IBF.

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How should training providers ascertain if a self-sponsored individual is a (i) licensed representative or (ii) general insurance agent is an eligible participant under the Financial Training Scheme (FTS)?

The licensed representative or registered agent should provide a letter of support from his/her Financial Institution (FI) Principal when enrolling for the during course. Training Provider should also sight the staff pass of the licensed representative or registered agent and check the MAS Register of Representatives / General Insurance Association’s (GIA) Agent Registration Board to confirm the participant’s eligibility.

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Who will submit the Training Allowance Grant claim on behalf of (i) licensed representatives and (ii) general insurance agents who complete a Financial Training Scheme (FTS) course?

The Financial Institution (FI) principal who supported the licensed representative or registered agent for the Financial Training Scheme course will need to submit the training allowance grant claim on their behalf (...)

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Why are we moving to a nett fee model?

The enhanced course fee subsidy and the IBF Credit will be disbursed in advance to help alleviate cashflow challenges that individuals, employers or training providers may face during this time.

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How soon do I have to transit to a nett fee model? Is there a separate application process?

This is in line with SkillsFuture Singapore which requires approved training providers to operate based on a nett fee model.No separate application is required for training providers to transition from full fee to nett fee. Training providers that cannot transition to a nett fee model by 31 May 2020 should write in separately to IBF.

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Will I still need to submit a claim for company-sponsored individuals that are charged full fees?

No, the training provider will not need to submit the claim on behalf of the sponsoring company.

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Will the course fee subsidy and the IBF Credit also apply to self-sponsored or company sponsored individuals who have...

The enhanced course fee subsidy will apply to IBF recognised courses that commence on or after 8 April 2020, up to 31 December 2021. The IBF Credit applies only to IBF recognised courses that commence on or after 8 April 2020, up to 31 December 2020.

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Will self-sponsored individuals be eligible for the enhanced course fee subsidy and IBF Credit if they have already registered and were invoiced at nett fee based on the original funding quantum, for courses that will commence on or after 8 April 2020?

For self-sponsored individuals who have paid nett fees based on the original funding quantum for courses that will commence on or after 8 April 2020, please refer to the table below for the action to be taken by the training provider.

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How does my company submit the enhanced course fee subsidy claim and IBF Credit for company-sponsored individuals and self-sponsored individuals?

We understand that as we switch to a nett fee arrangement, training providers will want to be able to claim the outstanding amount from IBF as soon as possible.

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What is the claim submission process for company sponsored or self-sponsored individuals who have already registered and paid full fee for courses commence on or after 8 April 2020?

For IBF accredited courses commencing on or after 8 April 2020, up to 31 December 2020 (Advanced Disbursement Period), you may submit a claim for the enhanced course fee subsidy and IBF Credit to IBF for reimbursement to the self-sponsored participants once you have confirmed the course run and registration for that particular run has been closed.

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What are the documents to be submitted as part of the enhanced course fee subsidy and IBF Credit claim application?

You will be required to submit an enhanced course fee subsidy claim worksheet as part of the claim application.

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What if the eligible sponsoring company is not able to furnish their sponsored staff’s personal details such as NRIC?

In cases where an eligible sponsoring company is not able to furnish their sponsored staff’s personal details, the training provider should charge the company the full course fee, and issue relevant documents such as the invoice and certificate of completion in a timely manner, to facilitate the company’s claims once their employees’ training has been completed.

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Is there a deadline for the submission of the enhanced course fee subsidy and IBF Credit claim?

For IBF accredited courses commencing on or after 8 April 2020 to 31 December 2020 “advanced disbursement period”, the application must be submitted to IBF within 1 month from the completion of the course. For IBF accredited courses commencing on or after 1 January 2021 to 31 Dec 2021, the application must be submitted to IBF within 1 month from the completion of the course.‍

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Can we submit the enhanced course fee subsidy and IBF Credit claim before the IBF Portal is ready?

All claims for the enhanced course fee subsidy and IBF Credit will only be accepted from 1 May 2020. Prior to this, you may download a copy of the enhanced course fee subsidy claim worksheet from the IBF portal to prepare your submission.

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What will happen if the company-sponsored individual or the self-sponsored individual (a) drops out halfway through the course; or (b) did not pass the assessment for the course?

The individual will not be eligible for the course fee subsidy and the IBF Credit if he/she drops out halfway through the course or did not pass the assessment. The training provider will be expected to take reasonable steps to claw back the disbursed course fee subsidy and IBF Credit from the self-sponsored individual or the sponsoring company and return the monies recovered to IBF within 3 months from the completion of the course for the cohort.

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How should the enhanced course fee subsidy and IBF credit be reflected on invoices for IBF recognised course?

Your company issued invoice for IBF recognised courses should include your organisation, the IBF recognised course code and name, course dates, participant’s name, sponsoring company, full fee amount, enhanced course fee subsidy, IBF Credit, GST amount as well as payable amount, where applicable.

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How should the claim for the enhanced course fee subsidy and the IBF Credit be submitted if the cohort for the IBF recognised course comprise of both grant eligible and ineligible trainees.

In cases where the IBF recognised course is attended by both eligible and ineligible trainees, the course fees should be apportioned based on total number of trainees in the class. The claim for the enhanced course fee subsidy and IBF Credit should be submitted for eligible trainees only.

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Are Goods and Services Tax (GST) supported under the enhanced course fee subsidy and the IBF Credit?

For self-sponsored individual, the enhanced course fee subsidies under the IBF Standards Training Scheme (IBF-STS) and IBF Credit will be applied to the course fee inclusive of the prevailing GST amount. For company-sponsored individual, the enhanced course fee subsidies and IBF Credit are only applicable to the course fee excluding the GST amount.

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As an IBF Standards Training Scheme (IBF-STS) training provider, how do I submit the Training Allowance Grant on behalf of self-sponsored individuals?

Training providers will submit the Training Allowance Grant on behalf of self-sponsored individuals. You will be required to log into your IBF Portal account to submit the relevant documents (e.g. training allowance grant claim worksheet and trainees’ certification of completion) for the claim application.

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What are the documents to be submitted as part of the Training Allowance Grant application?

You will be required to submit relevant supporting documents such as the Training Allowance Grant claim worksheet and trainees’ certificate of completion as part of the claim application. You may download a copy of the Training Allowance Grant claim worksheet from the IBF portal.

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Is there a deadline for the submission of the Training Allowance Grant claim on behalf of the self-sponsored individuals?

You must submit the Training Allowance Grant application to IBF for reimbursement to the self-sponsored individuals no later than 1 month from the date of course completion.

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Is IBF recognised course eligible for SkillsFuture Credit support?

Only IBF recognised courses that fulfil the following requirements will be eligible for SkillsFuture Credit support:

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Can the self-sponsored course participants use their SkillsFuture Credit to offset the course programme fee? If so, what is the amount that can be utilised?

Yes, self-sponsored individuals can use their SkillsFuture Credit for IBF recognised courses that are listed on the SkillsFuture Training Exchange. SkillsFuture Credit can be utilised to pay for the unsubsidised portion of the course fee.

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