The Government Service Insurance System (GSIS), the state-pension fund, marked its 86th anniversary by launching various programs and features aimed at improving services for its members. During the anniversary celebration on Wednesday, GSIS President and General Manager Wick Veloso announced the launch of a housing program, a low-interest loan product called MPL Flex, and additional features on the GSIS Touch mobile app. These initiatives were in response to the directives of President Ferdinand R. Marcos Jr.
Veloso emphasized the organization’s commitment to digitization, making processes more convenient for members and pensioners. As part of this effort, the GSIS Touch app now includes facial recognition technology, enabling old-age pensioners and individuals with disabilities to complete their annual pensioners’ information revalidation (APIR) using their smartphones. This eliminates the need for them to physically visit GSIS branches for the APIR process.
In line with the President’s vision of addressing members’ financial needs, the GSIS enhanced its Multi-Purpose Loan (MPL) and renamed it MPL Flex. The loan product offers a longer and more flexible payment period, ranging from one to 15 years, with an affordable interest rate of 6 percent per annum. Eligibility conditions have also been relaxed, allowing government employees who have served for only one month to apply for the MPL.
During the anniversary celebration, the GSIS also launched the Pabahay sa Bagong Bayani na Manggagawa (PBBM) sa Pamahalaan Program. This program aims to assist the government in resolving the significant housing backlog of over 6 million units. It includes a rent-to-own scheme for the GSIS’s 15,000 residential properties, an extension of the Housing Loan Condonation Program until 2025, and the construction of affordable low-cost housing units for government workers.
To ensure the protection of government properties and assets, the President directed that all these properties should be covered by property insurance, aligning with the GSIS’s mandate. Veloso also proudly announced that the GSIS achieved a significant milestone by generating PHP6.8 billion in gross premiums written, marking the highest recorded figure in the organization’s history. With the General Insurance Fund worth PHP41.92 billion, the GSIS has become the largest non-life insurance company in the country.
President Marcos Jr., who graced the celebration, expressed his gratitude to the GSIS for its efforts, stating that they align perfectly with his goal of enhancing government service. The GSIS, established by Commonwealth Act 186 and Republic Act (RA) 8291 (GSIS Act of 1997), commenced operations on May 31, 1937, with the purpose of providing social security benefits and insurance coverage to government employees. Currently serving over 2.5 million members and pensioners, the GSIS continues to fulfill its mandate of safeguarding and protecting government properties through property insurance.
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AMA ACLC San Pablo
