The EPF’s corporate affairs department said the option was opened to members on May 12.

It said 3.04 million withdrawal applications involving RM5.52 billion from Akaun Fleksibel had been approved.

EPF chief operating officer Sazaliza Zainuddin said the fund expected the number of such applications to continue increasing until the deadline on Aug 31.

“We are pleased to see the significant increase in applications via KWSP i-Akaun mobile app. This reflects our efforts to enhance user experience and accessibility as we continue to innovate and expand our digital offerings,” he said in a statement.

From May 12 to Aug 31, members will have an option to transfer one-third of their savings balance from Akaun Sejahtera to Akaun Fleksibel.

The transfer of the initial amount to Akaun Fleksibel is based on the balance in the member’s Akaun Sejahtera on the application date.

Withdrawals from Akaun Fleksibel can be made at any time for any purpose, with a minimum withdrawal of RM50.

EPF has asked members not to rush into making the transfer as the deadline for doing so is Aug 31.

Members who have yet to register with the KWSP i-Akaun are encouraged to do so to enable withdrawal transactions from Akaun Fleksibel.

For information on the EPF account restructuring and details on the option to transfer an initial amount, visit the EPF website at www.kwsp.gov.my, or call the EPF management centre at 03-8922 6000.