GSIS first-half net income climbs 27.78% to ₱94.7 billion
GSIS posted ₱94.75 billion in net income for the first half of 2026, up 27.78%, with ₱2.05 trillion in total assets and billions more disbursed through its Ginhawa loan programs for government workers and retirees.
NEWS
8/1/20262 min read
The Government Service Insurance System posted net income of ₱94.75 billion in the first half of 2026, up 27.78% from ₱74.2 billion over the same period last year.
Gross income reached ₱195.38 billion, a 15.03% increase from ₱169.9 billion in the first half of 2025. Total assets stood at ₱2.05 trillion as of June 30, up ₱74.81 billion from the ₱1.98 trillion recorded at the end of 2025.
Administrative costs, covering personnel services and operating expenses, totaled ₱5.53 billion. That put administrative loading at 2.55%, well under the 12% statutory ceiling and in line with GSIS's record of single-digit loading over the past several years. Of every peso GSIS spent in the first half, 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."
Where the social dividend is going
GSIS is channeling that dividend through its Ginhawa Loan programs, including measures rolled out after President Ferdinand R. Marcos Jr. declared a national energy emergency under Executive Order 110.
GSIS opened Balik Ginhawa and the Ginhawa Solar Energy Loan (GSEL) on March 25. Balik Ginhawa 1 and 2 refunded up to six months of loan amortizations paid by members and pensioners during the emergency period, crediting nearly ₱18.3 billion to more than 1 million beneficiaries as of July 27. GSEL lets qualified members finance solar-energy systems at 5% interest over 60 months with no service fee; as of July 29, it had granted ₱7.3 billion to 23,168 members working to bring down household electricity costs.
The Ginhawa Bike and E-Mobility Loan (GBEL), launched May 4, helps members finance bicycles and electric mobility units for daily commuting. It had granted more than ₱1.7 billion to over 36,000 members as of July 28.
On July 28, GSIS also opened the Ginhawa Health Assistance Loan (G-HEALTH), signing its first memorandum of agreement under the program with Maxicare Healthcare Corporation. Through the GSIS Touch app, qualified members can browse, compare and enroll in health insurance packages from accredited HMOs, with premiums financed through a zero-interest loan payable over 12 monthly installments. Maxicare is the first accredited HMO under the program, with more providers expected to join; the initial rollout is expected to reach around 214,000 members.
Based on its latest actuarial study, GSIS remains financially sustainable until 2058, securing 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.