GSIS first-half net income climbs 27.78% to P94.7 billion; assets stand at P2.05 trillion

The Government Service Insurance System (GSIS) posted net income of P94.75 billion in the first half of 2026, up 27.78 percent from P74.2 billion in the same period last year.

Gross income stood at P195.38 billion, a 15.03 percent increase from P169.9 billion in the first half of 2025. Total assets stood at P2.05 trillion as of June 30, 2026, up P74.81 billion from P1.98 trillion at the end of 2025.

Administrative costs, including personnel services and operating expenses, totaled 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.  Of every peso the GSIS spent in the first half of the year, 94 centavos went directly to claims and benefits for members, pensioners, and their dependents.

“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 social dividend is also delivered through the Ginhawa Loan programs, including measures introduced in response to President Ferdinand R. Marcos Jr.’s declaration of a national energy emergency under Executive Order No. 110.

The GSIS opened Balik Ginhawa and the Ginhawa Solar Energy Loan, or GSEL, on March 25. 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 1 million beneficiaries as of July 27.

GSEL enables qualified members to finance solar-energy systems at 5 percent interest, payable over 60 months with no service fee. As of July 29, the program had granted P7.3 billion to 23,168 members, helping them reduce household electricity costs over time.

Launched on May 4, the Ginhawa Bike and E-Mobility Loan, or GBEL, helps members finance bicycles and electric mobility units for daily commuting, granting more than P1.7 billion to over 36,000 members as of July 28.

The GSIS also opened the Ginhawa Health Assistance Loan, or G-HEALTH, on July 28 through its first memorandum of agreement under the program with Maxicare Healthcare Corporation.

Through the GSIS Touch, qualified members may browse, compare, and enroll in health insurance packages offered by accredited health maintenance organizations.

The GSIS finances HMO premiums through a zero-interest loan payable over 12 monthly installments, helping members secure health coverage while maximizing the value of their medical allowance. Maxicare is the first accredited HMO under the program, with more health insurance providers expected to join. The initial rollout is expected to benefit around 214,000 members.

Based on its latest actuarial study, the GSIS remains financially sustainable until 2058, helping secure benefits for current and future generations of government workers and retirees.

“Financial sustainability allows the GSIS to deliver social dividends today while protecting the benefits of future generations,” Veloso said.