MANILA, Philippines – The Government Service Insurance System (GSIS), the state-owned pension fund for government employees, reported yesterday that its income from loans and investments went up by 30.39 percent to P46.42 billion in 2008 from P35.6 billion recorded in 2007, GSIS data showed.
The state pension fund attributed the increase to the prudent investment strategies last year.
Earnings from investments alone grew by 94.20 percent to P28.57 billion last year from the P14.71 billion recorded in 2007.
It likewise improved its income from loans, which stood at P14.18 billion last year, GSIS said.
Investment income contributes significantly to GSIS’ coffers, enabling the state-run pension fund to maintain a healthy actuarial life.
The state-owned pension fund also reported that the net assets of its Social Insurance Fund (SIF), a pool of fund held in trust for social insurance benefits, grew by around 9.46 percent to P442.02 billion last year, from the P403.78 billion in 2007.
GSIS’ net assets will answer for the future claims and benefits of its combined 1.4 million members and pensioners.
GSIS president and general manager Winston Garcia said the pension fund would continue to be prudent on its investments this year, but would keep a diversification strategy that would allow the pension fund to tap other attractive markets.
He said that the agency would continue to invest locally but would remain prudent with its investment decisions.
“We will continue to defy economic challenges and improve our services to our stakeholders,” Garcia added.
The GSIS is the top earning government enterprise to date. It also ranks as the second government enterprise with the biggest asset base.
Its net income jumped 21.35 percent to P50 billion in 2008 from P41.2 billion in 2007.
GSIS attributed its robust earnings to improved member contributions, hefty foreign exchange gains, and the sale of its entire shares in electricity giant Manila Electric Company to food and beverage giant San Miguel Corp. –Iris C. Gonzales, Philippine Star
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
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July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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