Financial training

The House of Training

During the year of its 25th anniversary, the IFBL has again recorded a substantial increase in the number of registrations: expressed in “training man-days”, the figure increased from 10,000 in 2010 to 13,200 in 2014, and reached 15,000 in 2015. As in the past, courses connected with the investment fund industry have been very well attended, as have all the training courses directly or indirectly linked to the regulatory and supervisory environment of the financial marketplace. Even more than in the past, the IFBL has also received many requests to organise in-house training courses tailored to the clients’ specific requirements.

 

However, 2015 was not only the year of the IFBL’s 25th anniversary: it was also a milestone in its history, as it was the year in which the Institute joined the House of Training.

 

This new player in the market for continuous professional training, created on the initiative of the ABBL and the Chamber of Commerce, is keen to become the Luxembourg economy’s privileged partner for continuous professional training.

 

To achieve this objective, the House of Training brings together under one roof a very wide range of training courses for different sectors of activity and training fields.

 

The financial community will have the benefit of a substantially extended training offer, more expertise, and improved management processes, while dealing with a single partner.

 

In fact, all the partnerships previously concluded by the IFBL with the most important professional associations in the financial sector will be renewed under the House of Training banner, thereby ensuring that the training offer remains up-to-date, relevant, and targeted to meet the needs of the financial sector.

The Law on co-financing

On Saturday, 9 September 2017, the law on co-financing has been published at the Memorial.

The main changes established by this law are the following and are applicable:

  • Co-financing is no longer possible for all kinds of trainings. The new law excludes this option for legally mandatory trainings for regulated professions, as well as for subcontractors of the company and business owners themselves.
  • Under the new law, trainings do not need to be included in a training plan approved by the staff delegation. Therefore, the € 75,000 condition no longer exists.
  • The information to be submitted in the context of a written request for co-financing has been amended (see article L.542-11).
  • The rate of the state contribution to co-financing has been reduced from 20% to 15% and will, from now on, only be paid out as direct contribution and not as tax bonus anymore. Whereas the financial participation to the salary cost for employees benefitting from a special form of co-financing rises from 15% to 20%.
  • The duration the training aiming at the adaptation of the employee to its new job has been reduced from 173 hours to 80 hours per exercise and is now limited to unqualified employees or employees whose diploma is not in relation with the exercised activity. At the same time, the time passed by the internal trainer in this context is no longer eligible.
  • The new law foresees investment limits in terms of number of employees of the company and a fixed reimbursement sum of € 500 has been introduced for the constitution of a file, in case at least one hour of training has been taken.

A precise definition of eligible costs of co-financing can be found under article L.542-13.

Contact

Association des Banques et Banquiers, Luxembourg

Address

12, Rue Erasme L-1468 Luxembourg

Phone Fax
Opening hours

Monday to Friday from 8:00 to 17:30.