Vakıfbank mandatory individual pension cancellation refers to the processes that terminate the use of individual retirement savings (BES) and can be carried out at Vakıfbank branches, via the internet branch, by SMS, or through the pension support line.
How to Cancel Vakıfbank Mandatory BES via Internet Branch?
Steps to cancel Vakıfbank BES through the internet branch are as follows:
- Open the Vakıf Emeklilik website by navigating to the appropriate Vakıfbank pension portal.
- Click the “Online Transactions” section located at the top-right corner of the homepage.
- From the options shown, select the “individual” section.
- On the displayed login form, enter your Turkish ID number (TC) and customer code, then click the “login” button.
- In the new page, select the “BES Robot” section.
- From the options presented, choose the “BES withdrawal right” or “BES cancellation” category and then click the “confirm” box at the bottom of the page.
After completing these steps, the BES cancellation is finalized through the internet branch.
How to Cancel Vakıfbank Mandatory Individual Pension by Phone?
To cancel Vakıfbank mandatory individual pension by phone, follow these steps:
- Call the Vakıfbank pension support line at 0850 222 9 237.
- The call will be answered by an interactive voice response system.
- The system will request your Turkish ID number (TC).
- Enter your TC number using the phone keypad.
- The system will ask you to state the reason for your call briefly.
- Indicate verbally that you want to speak with a customer representative.
- You will be transferred to a representative.
- Explain to the representative that you wish to cancel your BES and provide the reason. The representative will register the cancellation request in the system.
These steps allow you to complete the BES cancellation without visiting a branch.
How to Cancel Mandatory BES at a Vakıfbank Branch?
To cancel mandatory BES at a Vakıfbank branch, follow these steps:
- Visit the nearest Vakıfbank branch with your Turkish ID card.
- Take a ticket or sign in to meet with a customer representative.
- When your turn comes, inform the representative that you want to cancel mandatory BES and present your ID card.
- The representative will provide a “Vakıfbank mandatory BES cancellation request form” to be completed with your identification and contact information and then signed.
- After submitting the signed form, the cancellation process is completed.
Frequently Asked Questions
What Are the Vakıf Emeklilik BES Cancellation Deductions?
Vakıfbank mandatory BES cancellation deductions are applied as follows:
- There is no deduction for cancellations made within the first 2 months.
- If a participant who has benefited from Vakıfbank mandatory individual pension for up to 10 years cancels before retirement, 15% of the BES returns may be withheld.
- If cancellation occurs when retirement rights have already been earned, a 5% deduction of the BES returns may apply.
When Is the Refund Made After Vakıfbank BES Cancellation?
Refunds after a Vakıfbank BES cancellation are processed within 10 business days. The balances in the BES account are delivered to the account holders via branches after this period.
Can Vakıfbank BES Cancellation Be Done by SMS?
To cancel Vakıfbank BES by SMS, follow these steps:
- Open a new text message on your phone.
- In the message body, enter: VEML [space] your TC identification number [space] CAYMA [space] your date of birth (day.month.year).
- Send the message to 4933.
- After processing, Vakıfbank will send an SMS confirming that your BES cancellation has been completed.
By following these steps, the Vakıfbank mandatory individual pension cancellation is completed.