Gross income rose 15.03 percent to P195.38 billion from P169.9 billion in the same period last year, while total assets reached P2.05 trillion as of June 30, up P74.81 billion from P1.98 trillion at the end of 2025.
Despite the increase in income and assets, GSIS President and General Manager Wick Veloso said financial performance is meaningful only when it translates into better services and timely assistance for members.
“What is the use of higher net income if we have not improved the lives of government workers and retirees?” 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.”
Social dividend
GSIS said it continued to keep operating costs low while directing the bulk of its resources toward member benefits.
Administrative expenses, including personnel services and operating costs, totaled P5.53 billion, with administrative loading at 2.55 percent, well below the 12-percent statutory ceiling. The pension fund said that for every peso it spent during the first six months of the year, 94 centavos went directly to claims and benefits for members, pensioners and their dependents.
The agency also expanded its Ginhawa Loan programs, including initiatives introduced following President Ferdinand R. Marcos Jr.'s declaration of a national energy emergency under Executive Order No. 110.
Expanded assistance
Among the major initiatives was Balik Ginhawa, which refunded up to six months of loan amortizations paid during the emergency period. As of July 27, nearly P18.3 billion had been credited to more than one million members and pensioners.
The Ginhawa Solar Energy Loan (GSEL) has likewise gained traction, providing P7.3 billion in financing to 23,168 members as of July 29. The program allows qualified members to install solar energy systems through loans carrying 5 percent interest, payable over 60 months with no service fee.
Meanwhile, the Ginhawa Bike and E-Mobility Loan (GBEL) has released more than P1.7 billion to over 36,000 members since its launch in May, helping finance bicycles and electric mobility units for daily commuting.
GSIS has also broadened healthcare access through the Ginhawa Health Assistance Loan (G-HEALTH). Under its first agreement with Maxicare Healthcare Corp., qualified members can obtain health maintenance organization (HMO) coverage through GSIS Touch, with premiums financed through a zero-interest loan payable over 12 monthly installments.
The initial rollout is expected to benefit around 214,000 members, with additional HMO providers expected to participate.
Based on its latest actuarial study, GSIS said it remains financially sustainable until 2058, ensuring it can continue paying benefits while expanding programs that deliver what Veloso described as the agency's "social dividend" to current and future generations of government workers and retirees. —Ed: Corrie S. Narisma
