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Government Service Insurance System office in Pasay City. Mark Demayo, ABS-CBN News

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ABS-CBN News

MANILA – The Government Service Insurance System (GSIS) announced Sunday it will return more than P19 billion in loan refunds to 1.37 million members and pensioners, opting for a lump-sum refund over a traditional payment freeze.The state pension fund said its &quot;Balik Ginhawa&quot; program targets those with active loan accounts who continued making payments between December 2025 and February 2026.Under the unique scheme, the GSIS will not suspend ongoing monthly deductions. Instead, it will reimburse up to three months of amortizations in a single payment. Monthly loan settlements typically range from P4,000 to P39,000, meaning some beneficiaries could receive a windfall of up to P117,000.GSIS President and General Manager Wick Veloso said the move was designed to put liquidity directly into the hands of government workers.“This is a more responsive approach than a traditional moratorium. Instead of suspending payments, we are returning up to three months of amortizations in one lump sum, giving our members immediate support when they need it most,” Veloso said in a statement.The agency clarified that the refund is strictly limited to those who remained updated on their dues during the three-month window. Members who did not make payments during that period will not be eligible for the payout.The GSIS provides social security coverage for the Philippine public sector, including life insurance, retirement updates, and credit facilities.

The GSIS said it will return more than P19 billion in loan refunds to 1.37 million members and pensioners, opting for a lump-sum refund.

The GSIS said it will return more than P19 billion in loan refunds to 1.37 million members and pensioners, opting for a lump-sum refund.

GSIS to release P19 billion in loan refunds instead of payment moratorium

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GSIS to release P19 billion in loan refunds instead of payment moratorium

ABS-CBN News

Published April 06, 2026 12:58 PM PHT

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Updated April 06, 2026 06:01 PM PHT

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GSIS

pension fund

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