MANILA – The Government Service Insurance System (GSIS) posted a net income of PHP94.75 billion in the first half of 2026, up 27.78 percent from the same period last year, attributing its stronger financial performance to sustained benefit payouts and expanded assistance programs for government workers and retirees.
In a news release on Friday, the GSIS said its gross income rose 15.03 percent to PHP195.38 billion from PHP169.9 billion in the same period last year, while total assets reached PHP2.05 trillion as of June 30, up from PHP1.98 trillion at the end of 2025.
Administrative expenses amounted to PHP5.53 billion, with an administrative loading of 2.55 percent – well below the statutory ceiling of 12 percent.
The state pension fund said 94 centavos of every peso it spent during the period went directly to members' and pensioners' claims and benefits.
“What is the use of higher net income if we have not improved the lives of government workers and retirees?” GSIS President and General Manager Wick Veloso said.
“Numbers on the income statement mean nothing until they become pensions paid on time, claims released without delay, or financial assistance a family can actually use."
The GSIS said its financial gains also supported several "Ginhawa" programs launched following President Ferdinand R. Marcos Jr.'s declaration of a national energy emergency.
These include Balik Ginhawa, which has refunded nearly PHP18.3 billion in loan amortizations to more than one million members and pensioners; the Ginhawa Solar Energy Loan that has released PHP7.3 billion to more than 23,000 members; the Ginhawa Bike and E-Mobility Loan with more than PHP1.7 billion in approved financing; and the newly launched Ginhawa Health Assistance Loan, which offers zero-interest financing for health maintenance organization premiums.
Veloso said the pension fund's latest actuarial study showed GSIS remains financially sustainable until 2058, allowing it to continue delivering benefits while safeguarding the retirement security of future generations of government workers.
“Financial sustainability allows the GSIS to deliver social dividends today while protecting the benefits of future generations,” he said. (PNA)
