The Government Service Insurance System continues to prioritize the financial well-being of its members.
In 2024, the GSIS disbursed a total of ₱289 billion under its Multi-Purpose Loan (MPL) programs, providing crucial financial assistance to more than 1.2 million government employees across the Philippines.
The flagship MPL Flex program, launched in September 2023, has experienced significant growth, extending ₱282 billion to over 1 million members. This represents a 35.5% increase compared to its first-year performance of ₱208.17 billion. Another P7.2 billion was distributed to 197,675 members via the MPL Lite program.
“The rapid growth of MPL Flex in less than two years demonstrates both the program’s effectiveness and the significant demand for flexible financial solutions among our members,” said GSIS president and general manager Wick Veloso.
The MPL Flex program offers government workers loans up to 14 times their monthly base salary, with a maximum loan amount of ₱5 million, a 6% annual interest rate, and repayment terms of up to 15 years.
Its rapid growth highlights both its success and the growing demand for flexible financial solutions among public sector employees.
The state pension fund’s digital platforms, including the GSIS Touch mobile app, have streamlined the loan process, allowing members to apply, track, and manage their loans remotely. Loans are now credited to members’ accounts within 24 hours of agency approval, significantly reducing processing times.
GSIS’s financial performance continues to grow, with total assets increasing by 8% to ₱1.8 trillion and net income from operations rising by 58% to ₱120 billion as of the third quarter of 2024.
The pension fund’s overall revenue also reached ₱258 billion, a 27% rise from the previous year, while its non-life insurance business saw a 60% jump in gross premiums.
