The Government Services Insurance System (GSIS) reported net income of P112 billion in the nine months to September.
That was more than the P100 billion it recorded through August and surpassed its P76.6 billion earnings target for the period, it said in a statement Tuesday.
Revenue reached P260 billion, exceeding the state pension fund's target of P241.8 billion.
Meanwhile, total spending reached P148 billion, below the target of P165 billion. Administrative cost was 2.5%, which is quite low 12% limit under the GSIS Charter.
“This low ratio ensures that the fund's resources are allocated primarily to its core mission of serving its members,” it said.
The GSIS's total assets stood at P1.93 trillion at the end of September, 5.7% higher than the level at the end of 2024.
GSIS President and General Manager Jose Arnulfo “Vic” A. Veloso said, “The figures reflect the current state of our financial health. Our net income of P112 billion is a clear indicator of our continued growth and stability.”
“Our financial health is strong. Our focus is on building a resilient institution that works for its members, and these results confirm we are on the right track.” , AMC Sy
