The Government Service Insurance System (GSIS) reported a net income of P61 billion for the first half of the year, a 20-fold increase from the P3 billion in the same period the previous year. The marked growth in profitability from January to June 2023 was driven by strong revenues and…
The Government Service Insurance System reported a net income of P61 billion for the first half of the year, a 20-fold increase from the P3 billion in the same period the previous year.
“Although these expenses have grown, the rate of increase was slower,” GSIS President and General Manager Wick Veloso noted. “A key factor in keeping expenses under control has been the careful management of operational costs.” “A lengthier actuarial life allows us to meet our obligation of providing timely benefits to our members and pensioners. As a financial institution, we focus on growing our members’ contributions through strategic investment opportunities,” Veloso explained.
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