GSIS Net Income Soars in H1, Securing Sustainability Until 2058

MANILA, Philippines — The Government Service Insurance System (GSIS) saw its net income rise by 27.8 percent to P94.75 billion in the first six months, setting it on track to remain financially sustainable until 2058. In a statement, the pension fund for state workers said it earned P94.75 billion from January to June, a sharp increase from last year’s P74.2 billion. Gross income stood at P195.38 billion, a 15-percent increase from P169.9 billion in the same period last year. Meanwhile, total assets went up to P2.05 trillion as of end-June from P1.98 trillion at the end of 2025. The GSIS said it remains financially sustainable until 2058, helping secure benefits for current and future generations of government workers and retirees, according to its latest actuarial study. “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. That is the social dividend. That is the only reason these numbers matter.” The state-run fund added that administrative costs, including personnel services and operating expenses, amounted to P5.53 billion. “Administrative loading stood at 2.55 percent, well below the 12 percent statutory ceiling and consistent with the GSIS record of single-digit administrative loading over the past several years,” it said. GSIS explained that of every peso the agency spent in the first half, 94 centavos went directly to claims and benefits for members, pensioners and their dependents. Since the declaration of a national energy emergency, the GSIS has rolled out several relief measures for members, including Balik Ginhawa and the Ginhawa Solar Energy Loan (GSEL). Balik Ginhawa 1 and 2 refunded loan amortizations up to six months, paid by members and pensioners during the emergency period, crediting nearly P18.3 billion to more than one million beneficiaries as of July 27. On the other hand, the GSEL, which enables qualified members to finance solar-energy systems, had granted P7.3 billion to 23,168 members as of July 29. The Ginhawa Bike and E-Mobility Loan also extended more than P1.7 billion to over 36,000 members as of July 28.