State-run pension fund Government Service Insurance System (GSIS) posted a 27.8-percent increase in net income in the first half of 2026, driven by higher earnings that pushed its total assets beyond the ₱2-trillion mark.

In a statement on Friday, July 31, GSIS said its net income rose to ₱94.8 billion in the January-to-June period from ₱74.2 billion a year ago.

Gross income climbed 15 percent to ₱195.38 billion from ₱169.9 billion in the same period last year.

Total assets reached ₱2.05 trillion as of end-June, up by ₱74.8 billion from ₱1.98 trillion at the end of 2025.

The pension fund said its administrative costs, including personnel services and operating expenses (opex), amounted to ₱5.5 billion during the six-month period.

Administrative loading stood at 2.6 percent, well below the 12-percent statutory ceiling. GSIS said that for every peso it spent in the first half, 94 centavos went directly to claims and benefits for members, pensioners, and their dependents.

“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,” GSIS President and General Manager (PGM) Wick Veloso said.

GSIS said it has continued to roll out its Ginhawa loan programs, including those introduced following President Ferdinand R. Marcos Jr.’s declaration of a national energy emergency under Executive Order (EO) No. 110.

The pension fund said its Balik Ginhawa 1 and 2 programs had credited nearly ₱18.3 billion to more than one million beneficiaries as of July 27 through refunds of loan amortizations paid during the emergency period.

Its Ginhawa Solar Energy Loan (GSEL), which offers financing for solar energy systems at a five-percent interest rate payable over 60 months with no service fee, had released ₱7.3 billion to 23,168 members as of July 29.

Meanwhile, Ginhawa Bike and E-Mobility Loan (GBEL), launched on May 4, had granted more than ₱1.7 billion to over 36,000 members as of July 28.

GSIS also launched Ginhawa Health Assistance Loan (G-HEALTH) on July 28 through its first memorandum of agreement (MOA) with Maxicare Healthcare Corp.

Under the program, qualified members may enroll in health insurance packages offered by accredited health maintenance organizations (HMOs) through the GSIS Touch platform, with premiums financed through a zero-interest loan payable over 12 months.

The initial rollout is expected to benefit around 214,000 members, with Maxicare serving as the first accredited HMO under the program.

GSIS also said its latest actuarial study showed that the pension fund remains financially sustainable until 2058.

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