Forum talk:Can U Reset Your Skill Points When U Load An Existing Character??

As far as I know, no. I finished the game as a level 50 infiltrator and when I selected a new game using this existing ID, it just starts the game over with all Shephard's skill points distributed like before. You can, however, redistribute your allies' skill points since they start at level 1 and you get to level them back up to 50 (or whatever level Shephard is).