THE GOVERNMENT Service Insurance System (GSIS) booked a net income of P112 billion in the nine months through September.
This was up from the P100 billion recorded as of August and surpassed its P76.6-billion income goal for the period, it said in a statement on Tuesday.
Revenues reached P260 billion, also above the state pension fund’s target of P241.8 billion.
Meanwhile, total expenses reached P148 billion, below the P165-billion target. Administrative costs stood at 2.5%, well below the12% cap under the GSIS Charter.
“This low ratio ensures that the fund’s resources are primarily allocated to its core mission of serving its members,” it said.
GSIS’ total assets stood at P1.93 trillion at end-September, up by 5.7% from the end-2024 level.
“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,” GSIS President and General Manager Jose Arnulfo “Wick” A. Veloso said.
“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.” —A.M.C. Sy
