The net income of the Government Service Insurance System (GSIS) reached P112 billion as of September, exceeding its target by P35.4 billion on the back of strong revenues and prudent financial management.
GSIS President and General Manager Wick Veloso said the nine-month performance demonstrates the fund’s continued financial strength and stability.
“The numbers reflect the current state of our financial health. Our P112 billion net income is a clear indicator of our consistent growth and stability,” Veloso said.
The pension fund’s total assets rose to P1.93 trillion, representing an increase of P103.83 billion, or 5.7 percent, from its 2024 year-end level.
Veloso said GSIS remains committed to maintaining sound fiscal governance while efficiently managing its members’ contributions.
“Our financial health is robust. Our focus is on building a resilient institution that delivers for its members, and these results confirm we are on the right track,” he added.
From January to September, GSIS recorded P260 billion in revenues, surpassing its target of P241.8 billion by P18.2 billion.
Meanwhile, total expenses were kept at P148 billion, which is P17 billion less than the P165 billion budget for the same period.
Administrative costs remained at 2.5 percent, far below the 12 percent limit set under the GSIS Charter, ensuring that most of the fund’s resources are directed to programs that benefit its 2.7 million members and pensioners.
GSIS PHOTO