Against a backtground of 'second-wave' lifelong learning in Aotearoa New Zealand a new framework for post-compulsory national qualfications was introduced. The restulting competency-based system was argued to present a number of benefits for mature women including flexibility in curriculum and delivery and portability across educational sectors. Competency-based education was to include provision for recognition of prior skills and knowledge gained in formal learning environments and the workplace as well as informal learning environments such as the home and the community. Such recognition was a significant factor in gaining support from women's groups given the potential to recognize and value the domestic labour of women and the skills and knowledge that flow from it. This article explores the rhetoric around recognition of prior learning and discusses approaches to realise its potential. It then draws on research undertaken in Aotearoa New Zealand to suggest that the potential of recognition of prior learning is yet to be realised.