You can cancel your Garanti Bank BES enrollment to withdraw from the mandatory individual pension system into which you were enrolled. The individual pension system enables employees to pay contributions to private pension companies with state support and secure retirement benefits. Participants have the legal right to leave the system at any time. By completing the Garanti Bank BES cancellation process, you can exit the program and stop contributions deducted from your salary.
Garanti Bank BES is a system you join depending on your employer’s arrangements. Companies decide which pension provider to use based on agreements they make; your employer may present alternative providers. For example, you might be asked to choose between providers such as Garanti BBVA and Ziraat Bank. If you selected Garanti Bank when you enrolled, the following sections explain the cancellation steps and options available.
What Is Garanti Bank BES?
Garanti Bank BES refers to the individual pension plan administered under the bank’s contract. Your pension plan begins under the terms of that agreement, and each month a fixed amount is deducted from your salary and contributed to the plan. The higher the contributions, the larger the pension you can expect to receive later, helping ensure greater financial comfort in retirement.
Contributions in a Garanti Bank BES are invested across different funds. You can choose between interest-bearing or interest-free funds depending on your preference. The fund choices are available through the bank’s website or mobile app, allowing those with religious or personal concerns about interest to participate in a way that fits their values.
How to Cancel Garanti Bank BES
There are several ways to cancel Garanti Bank BES: by phone, in person at a branch, or online. After cancellation, your accumulated savings are returned to you either with or without deductions depending on how long you remained in the system. Consider your decision carefully before proceeding.
Remaining in the BES can be more advantageous if you want to preserve investment growth, achieve long-term gains, or build a retirement nest egg. Conversely, if you need immediate cash or prefer another investment, you may decide to leave the system.
Canceling BES via Garanti BBVA Website
To cancel BES through the Garanti BBVA website, visit the official emeklilik site and choose the contract termination option to complete the exit procedure.
After accessing the site, use the “Bireysel İnternet” option at the top right to reach the login screen. You can create a dedicated pension site password or log in using your regular banking credentials.
The site offers multiple access methods; select the one that applies to you and continue.
If you choose to log in with Garanti BBVA retail customer credentials, you will see a screen where you can enter your ID number or customer number.
To complete login you will need to approve the notification sent to your mobile device or use an SMS password. After logging in, navigate to the “Sözleşmeden Ayrılma” (Contract Termination) option to start the cancellation.
Canceling BES via Garanti BBVA Mobile App
You can also cancel BES using the Garanti BBVA pension mobile application for a faster process.
Search your device’s app store for “Garanti BBVA emeklilik” to download the app. After installation, log in using either Garanti BBVA or pension-specific credentials.
Once logged in, go to “BES Ayarları” (BES Settings). At the bottom of that screen you will find “BES sözleşmeden ayrılma.” After selecting it, the system will ask “Are you sure?” Confirming starts the cancellation process.
Cancel BES by Phone
You can cancel Garanti BES by phone by calling 444 0 336. Follow the prompts and provide any requested identification information, such as your ID number, to complete an early exit by phone.
Cancel BES at a Branch
You may also visit a Garanti BBVA branch to request BES cancellation. Branches have ready-to-use cancellation forms; after you fill out and submit the form, the process begins. You will receive an SMS to confirm—reply “Evet” (Yes) to proceed. The cancellation typically completes within about 10 days.
What Are the Conditions for Cancelling Garanti Bank BES?
There are no strict prohibitions on cancelling Garanti Bank BES, but there is a two-month initial period to consider. If you cancel within the first two months, you may be able to claim the state contribution back. After this two-month period, you lose the right to reclaim the state contribution upon exit.
Can I Receive All My Money After Cancelling BES?
If you cancel within the first two months, you can typically receive your full savings. After that, a deduction applies to the state contribution portion unless you remain in the system for at least three years to avoid reductions.
Can I Receive State Contributions After Cancelling BES?
If you cancel Garanti Bank BES before completing three years in the system, you are not entitled to the state contributions. To benefit from the state contribution, you must stay in the system for at least three years.
Typical state contribution accrual by duration:
- At the end of year 3: 15%
- After 6 years: 35%
- After 10 years: 60%
When you reach full retirement eligibility, the full state contribution is paid out. If you have multiple BES contracts, the state contribution is allocated proportionally across your contracts based on their balances.
Can a Cancelled BES Be Restarted?
You can rejoin the BES after cancelling, but re-entry rules apply: you cannot re-enroll before three years have passed since your exit, unless your employer re-enrolls you while you continue working at the same workplace and the employer reinstates contributions.
How Is Refund Paid After BES Cancellation?
Refunds after BES cancellation are transferred to the account number you provide. Once the cancellation is processed, refunds typically occur within up to two weeks. The refund amount depends on how long you participated in the system.
What Happens to BES Contracts When Changing Employers?
When you change employers, your BES contract is transferred to the new employer without deductions. If the new workplace has not yet implemented BES, you may continue contributing to your existing contract voluntarily.
What Happens to BES If the Employer Goes Bankrupt?
Employer bankruptcy does not automatically change your BES contract. You can continue paying contributions yourself, have your accumulated savings remain invested, or request to exit the system and receive your savings. If the employer stops paying your salary, you must cover contributions personally or arrange for deductions through a new employer.
How Do You Retire Through BES?
To retire via the individual pension system you must meet both an age requirement and a minimum contribution payment period. The contribution period is at least 10 years and the typical retirement age condition is 56. Those who meet the 10-year contribution requirement and continue paying contributions can receive larger monthly or lump-sum payments when they reach the qualifying retirement age.
How Much Will I Receive When Retiring from BES?
The payout you receive at BES retirement depends on the contributions you made. To estimate retirement payouts, use the Garanti Emeklilik savings calculator available on the pension site.
The savings calculator asks for the following information:
- Calculation type
- Current age
- Retirement age
- Monthly contribution
- Initial amount
Choose whether you want to calculate based on a monthly contribution or a savings goal, enter your age and planned retirement age, and input the monthly amount and initial balance to see estimated results.
For example, you can estimate the future balance for a 36-year-old who contributes 300 TL monthly. Use that projection to help decide whether to cancel or continue your BES participation.
How Can I Find Which Bank Holds My Individual Pension Account?
To find out which institution manages your individual pension account, check the e-Government (e-Devlet) portal. Many employees do not know which bank or pension provider their employer uses for deductions, which prevents them from tracking or managing their savings. In e-Devlet, search for “Bireysel Emeklilik” and select “Bireysel Emeklilik ve Otomatik Katılım Sorgulama” to view your accumulated savings and the institution that holds them.
Should You Cancel BES or Keep It?
Deciding whether to cancel BES or continue participating depends on your personal financial situation. Consider both short- and long-term impacts: if staying in BES supports your retirement goals and preserves state contribution benefits, it may be wise to remain. If immediate financial needs or better investment opportunities outweigh those benefits, you may proceed with Garanti Bank BES cancellation. Make a careful decision to avoid future regrets.