Launched in September 2023, the flagship GSIS MPL Flex program accounted for the majority of disbursements, extending P282 billion in long-term loans to 1,049,246 members.
The GSIS MPL Flex program, designed to provide government employees with flexible financial solution, has emerged as a cornerstone of GSIS' financial assistance initiatives. The program offers government employees loans of up to 14 times their monthly base pay, capped at P5 million, with a competitive 6 percent annual interest rate, and repayment term of up to 15 years.
Loan proceeds can be used as seed capital for small businesses, providing members an additional stream of income.
As of September 2024, the first full year of MPL Flex, disbursements hit P208.17 billion. The figure grew to over P282 billion by the close of 2024.
Additionally, P7.2 billion was extended to 197,675 members under the MPL Lite program, a short-term loan program of the GSIS, bringing total multi-purpose loan disbursements to P289 billion.
"The rapid growth of MPL Flex in less than two years demonstrates both the program's effectiveness and the significant demand for flexible financial solutions among our members," said GSIS President and General Manager Jose Arnulfo ‘Wick’ Veloso.
Beyond financial support, the MPL Flex program has catalyzed community-driven initiatives.
Roland Daleon Satin, a master teacher at Mayo Crossing Elementary School in Lucena City, used his MPL Flex loan to establish a computer shop serving local remote workers and students.
Amid the shift to blended learning, Satin reduced his rates to ensure students could continue their education affordably.
"This success story—one of many—illustrates how MPL Flex empowers our members to grow enterprises and secure additional income streams while addressing community needs," Veloso said.
GSIS said it has enhanced its digital platforms, enabling members to apply for loans online via the GSIS Touch mobile app. This 24/7 service simplifies applications, tracking, and account management, with approved loans credited to members’ e-Card accounts within 24 hours after approval.
The robust performance of GSIS's loan programs is underpinned by its strong financial standing as of the third quarter of 2024. The pension fund’s total assets grew 8 percent to P1.8 trillion, while net operational income surged 58 percent to P120 billion.
Overall revenue reached P258 billion, a 27-percent increase from the previous year. Its non-life insurance business further strengthened GSIS's financial position, generating P8 billion in gross premiums written, a 60-percent rise from 2023. —Ed: CSN
