GSIS net earnings reach P138 billion

THE GOVERNMENT Service Insurance System (GSIS) posted a record net income of P138 billion in 2025.

This was supported by gross revenues reaching P344 billion and nonlife gross premiums hitting P11.4 billion, the state pension fund said on Thursday.

Meanwhile, total assets reached nearly P2 trillion last year.

GSIS on Thursday also launched the GSIS Ginhawa Go microloan program to replace Ginhawa Lite. The program aims to cater to government employees who rely on predatory lending for emergency funds.

“Ginhawa Go addresses financial stress early before it escalates and allows you to pay down the loan at your next monthly cycle so that you don’t have to be in debt for example, for two years. Because then all the numbers change once you’re in debt for a long period of time because interest compounds,” Finance Secretary Frederick D. Go said in a speech at the launch event on Thursday.

“My understanding is in the outside market, the borrowing rates are in the double digits. Because of processing fees, application fees, and all sorts of other fees, you might think you’re borrowing money at, say, 6% per month. But with all the fees, you’re actually paying almost double-digit numbers, which makes it very difficult for anybody to keep up this kind of practice.”

GSIS President and General Manager Jose Arnulfo “Wick” A. Veloso said at the same event that he expects loan applications under the new program to surpass those seen for Ginhawa Lite as it now offers smaller amounts.

The loan program offers different loan amounts under different tiers. For amounts from P1,000 to P4,000, payment terms are offered at one to three months. Meanwhile, the standard tier has loanable amounts of P5,000 to P50,000 with payment terms of three, six, 12, 18, or 24 months.

“That structure matters. It recognizes that not every need requires a large loan. Sometimes a member needs a small, short reach with a short runway for repayment,” Mr. Veloso said.

The annual interest rate under the program is fixed at 6% for members with more than three years of paid premiums, while special members can avail the loan at a 7% rate.

Mr. Veloso said the GSIS is studying how to offer lower interest rates under the program.

Ginhawa Go loans are available to GSIS members with at least one month of paid premium contributions. — Aaron Michael C. Sy