Key Takeaways
- • GSIS reported net income of ₱123 billion for January to September 2026, up 14% from ₱108 billion in the same period of 2025, according to a statement released November 12, 2026.
- • Investment income rose to ₱69 billion from ₱55 billion, while gross revenue reached ₱278 billion, up 8.6%.
- • Total assets stood at ₱2.07 trillion as of September 30, 2026, up ₱140 billion from ₱1.93 trillion a year earlier.
- • Administrative loading rate was 2.58%, well below the 12% charter ceiling, and operating expenses came in 25% under budget at ₱8 billion.
- • GSIS's latest actuarial study projects financial sustainability until 2058; GSEL applications reached 66,233 worth ₱19.81 billion as of November 11.
Summary
The Government Service Insurance System (GSIS), the state pension fund for government workers, reported net income of ₱123 billion in the first nine months of 2026, a 14% increase from ₱108 billion in the same period last year. The figures were released in a statement on Thursday, November 12, and reported by Manila Standard, Bankero and the Daily Chronicle. GSIS attributed the growth to larger investment returns, higher premium contributions and tight control of expenses.
Investment income rose to ₱69 billion from ₱55 billion, and interest income from fixed-income securities increased to ₱33 billion from ₱31 billion. Premium contributions reached ₱160 billion, up from ₱148 billion, and exceeded the ₱143 billion paid out in claims and benefits. Income from member loans was ₱32 billion, compared with ₱31 billion a year earlier. Gross revenue totaled ₱278 billion, up 8.6%. Total assets were ₱2.07 trillion as of September 30, up ₱140 billion from a year earlier. According to Manila Standard, Ginhawa Loans accounted for 73% of the GSIS loan portfolio.
On costs, GSIS said personnel and operating expenses totaled ₱8 billion, 25% below budget, and its administrative loading rate of 2.58% sits far below the 12% ceiling in its charter. The fund said its latest actuarial study indicates it will remain financially sustainable until 2058. Membership has grown to 2.2 million, including 76,805 more contributing members than in September 2025.
GSIS President and General Manager Jose Arnulfo "Wick" Veloso said in the statement: "Every gain in income and assets strengthens our ability to deliver pensions, benefits, and affordable loans. We are growing the fund while keeping costs low because these resources ultimately belong to our members and pensioners." Veloso said the stronger position will allow GSIS to do more for members, particularly as El Niño could raise household electricity costs. The fund is expanding the Ginhawa Solar Energy Loan (GSEL), which finances residential solar systems; as of November 11, there were 66,233 applications worth ₱19.81 billion, with ₱10.12 billion already released to borrowers. GSIS also offers the Ginhawa Bike and E-Mobility Loan (GBEL) for bicycles, e-bikes and other eligible electric mobility devices. According to Context.ph, GSIS was named Top Investment House for Local Currency Bonds in the Pension Funds category at The Asset Benchmark Research Awards.
Investment income rose to ₱69 billion from ₱55 billion, and interest income from fixed-income securities increased to ₱33 billion from ₱31 billion. Premium contributions reached ₱160 billion, up from ₱148 billion, and exceeded the ₱143 billion paid out in claims and benefits. Income from member loans was ₱32 billion, compared with ₱31 billion a year earlier. Gross revenue totaled ₱278 billion, up 8.6%. Total assets were ₱2.07 trillion as of September 30, up ₱140 billion from a year earlier. According to Manila Standard, Ginhawa Loans accounted for 73% of the GSIS loan portfolio.
On costs, GSIS said personnel and operating expenses totaled ₱8 billion, 25% below budget, and its administrative loading rate of 2.58% sits far below the 12% ceiling in its charter. The fund said its latest actuarial study indicates it will remain financially sustainable until 2058. Membership has grown to 2.2 million, including 76,805 more contributing members than in September 2025.
GSIS President and General Manager Jose Arnulfo "Wick" Veloso said in the statement: "Every gain in income and assets strengthens our ability to deliver pensions, benefits, and affordable loans. We are growing the fund while keeping costs low because these resources ultimately belong to our members and pensioners." Veloso said the stronger position will allow GSIS to do more for members, particularly as El Niño could raise household electricity costs. The fund is expanding the Ginhawa Solar Energy Loan (GSEL), which finances residential solar systems; as of November 11, there were 66,233 applications worth ₱19.81 billion, with ₱10.12 billion already released to borrowers. GSIS also offers the Ginhawa Bike and E-Mobility Loan (GBEL) for bicycles, e-bikes and other eligible electric mobility devices. According to Context.ph, GSIS was named Top Investment House for Local Currency Bonds in the Pension Funds category at The Asset Benchmark Research Awards.
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