GSIS earns P123-B in first 9 months of 2026, up 14%

Detailed summary

The Government Service Insurance System (GSIS) posted PHP123 billion in net income in the first nine months of 2026, up 14 percent year on year, ...

MANILA – The Government Service Insurance System (GSIS) posted PHP123 billion in net income in the first nine months of 2026, up 14 percent year on year, strengthening its financial position to sustain pension benefits and expand access to affordable renewable energy financing.

In a news release Thursday, GSIS said its net income rose from PHP108 billion in the same period last year, while total assets reached PHP2.07 trillion as of Sept. 30, an increase of PHP140 billion from PHP1.93 trillion a year earlier.

“Our strong financial performance allows us to do more for our members and pensioners. With El Niño potentially driving up electricity consumption and household expenses, we want to mobilize our resources to make renewable energy solutions more accessible and affordable,” GSIS President and General Manager Jose Arnulfo “Wick” Veloso said.

The state pension fund reported an 8.6 percent increase in gross revenue to PHP278 billion, while investment income climbed to PHP69 billion from PHP55 billion.

Premium contributions also increased to PHP160 billion from PHP148 billion, exceeding the PHP143 billion in claims and benefits paid to members, pensioners, and their dependents.

GSIS attributed its financial performance to stronger investment returns, higher contributions, and prudent spending, with personnel and operating expenses limited to PHP8 billion, or 25 percent below budget.

Its administrative loading stood at 2.58 percent, well below the 12 percent ceiling prescribed under its charter.

“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.

With its improved financial position, GSIS is intensifying the promotion of its Ginhawa Solar Energy Loan (GSEL) to help government employees and pensioners reduce electricity expenses amid concerns over El Niño.

Opening of the article, excerpted from Philippine News Agency. To read the rest, open the article on the publisher's site.