BAGUIO CITY (PIA) - - The Government Service Insurance System (GSIS) assures extended actuarial life, better financial performance and improved services for members and  pensioners.

GSIS President and General Manager Jose Arnulfo Veloso announced this during the Stakeholders’ Dialogue at the Grande Hotel, here on  Wednesday (August 16).

Veloso  informed  that GSIS has extended its fund life by five years, projecting it to last until 2058 or for 35 years  instead of 30 years.

In terms of financial performance, the GSIS  has a  net income of P61 billion in the first half of 2023,  far more improved than the P3 billion net income during the same period in 2022.

For the improvement of services, Veloso shared that GSIS is now into enhancement of its loan programs. Its Multi – Purpose Loan (MPL)  now offers lower interest rate of  seven  percent and longer payment period of up to 10 years.

In terms of GINHAWA (convenience), GSIS is  already into the use of mobile phones through the GSIS Touch mobile App, in addition to the GSIS Kiosk.

“For the information of everyone, GSIS transactions are now 96 percent digital, of which 60 percent are through GSIS Kiosks and 40 percent through mobile phones,” Veloso said.

As of August 13, 2023, there are 933 GSIS Kiosks  and 848,642 GSIS Touch registered users nationwide.

On  GSIS investments, Veloso   said the  GSIS  is  focusing  its  investment strategies on four “Ps”,  namely Pabahay (housing), Pagkain (food security) Power and Pangkalusugan (health).

Along with the new developments at GSIS, Veloso  reiterated that all  their products and programs are for the benefit  of their members and pensioners  aligned to the Bagong Pilipinas program of President Ferdinand “Bongbong” Marcos.

“Again, I repeat, it is not enough for us to be successful. We need to be of value and our customers are the heroes, the servants of the Republic of the Philippines, our government employees. So,  it is our duty to give back to them everything that we make in GSIS.”

“Iyan po ang adhikain namin, mapabuti, mabigyan ng ginhawa ang buhay ng bawat nagsisilbi sa Republika ng Pilipinas,”[That is our goal, to  improve and make more convenient the life of each one serving the Republic of the Philipines] Veloso stressed.

To further  improve their programs, services and processes, the GSIS chief said  they are going around the country  to have  dialogue with members and pensioners  and other stakeholders. 

The GSIS has  around  two  million members and 586,791 pensioners as of July 31, 2023. 

During the  Baguio event,  Veloso also led other GSIS officials in  awarding   ownership titles to three members who have  completed the payment of their housing loans.

Also awarded  were top three government entities in terms of paid membership premiums.(JDP/CCD-PIA CAR)