EPF said the programme, i-Sinar, is being fine-tuned and is the outcome of consultation with stakeholders to ensure contributors can withdraw part of their savings and also have enough for their future well-being.

“EPF is confident the amount that can be accessed from i-Sinar together with the maximum withdrawal of RM500 a month from Account 2 under the i-Lestari facility (launched in April), will enable the affected members to fend for themselves in the short term,” it said in a statement.

i-Sinar is an extension of the i-Lestari withdrawal facility which has now reached an estimated total withdrawal of RM30 billion and will end in March.

Applications for i-Sinar, which allows withdrawals of RM500 a month over 12 months, may be made from December and the amount will be credited into the members’ bank accounts starting in January.