This is a very brief history of the CPF Investment Scheme.

When the investment scheme was first introduced on 1 May 1986, it was known as the Approved Investment Scheme (AIS) which allowed CPF members to invest a portion of their CPF-OA above their minimum sum in stocks, unit trusts and gold.

In Oct 1993, the AIS was renamed Basic Investment Scheme (BIS) and the Enhanced Investment Scheme (EIS) was implemented. These schemes further increase the amount which CPF members can invest using their CPF. The instruments that can be invested were expanded to include SESDAQ, government bonds, bank deposits, fund management accounts and endowment policies. This liberalization saw a surge in CPF withdrawal.

In 1997, the BIS and EIS merged to form the CPF Investment Scheme (CPFIS). Investments available were further expanded to include unit trusts which invested in regional stock exchanges of Malaysia, Thailand, South Korea, Taiwan and ...