GSIS gives government workers P19 billion in loan payment relief

Metro Manila, Philippines – The Government Service Insurance System (GSIS) has returned more than P19 billion in loan payment relief to over 700,000 government workers through its Balik Ginhawa program, giving members immediate financial breathing room by suspending loan amortizations for up to six months.

As of Aug. 31, GSIS said more than 1.3 million loan accounts have benefited from Balik Ginhawa and the enhanced Balik Ginhawa 2, with refunds credited directly to qualified members.

GSIS President and General Manager Wick Veloso said the program is designed to ease the financial burden on members without requiring them to take out new loans.

“Balik Ginhawa is about putting money back into the hands of our members and letting them decide where their families need it most. That can make a real difference in a family’s life,” Veloso said.

For a government employee paying P20,000 a month in loan amortizations, the six-month payment moratorium could free up as much as P120,000 in spending power, GSIS said.

The pension fund said members can use the money for tuition and school expenses, household bills, groceries, medical needs, home repairs, or other family expenses instead of loan repayments during the covered period.

More than P19 billion refunded

GSIS said P8.9 billion was returned under the first Balik Ginhawa program, while P10.1 billion was credited through Balik Ginhawa 2, bringing total refunds to more than P19 billion.

The agency said the program is on track to exceed P20 billion in total refunds, with applications remaining open until Oct. 31, 2026.

Balik Ginhawa was launched on March 1, 2026, while the enhanced Balik Ginhawa 2 began on July 1, 2026 to extend loan payment relief to more qualified GSIS members.

GSIS urges members to apply

Veloso encouraged eligible members who have not yet enrolled in Balik Ginhawa 2 to apply before the Oct. 31 deadline.

“We want every qualified member to benefit. There is still time to apply for Balik Ginhawa 2, and we encourage our members not to wait until the last minute,” he said.

Veloso said the initiative reflects GSIS’ goal of turning the pension fund’s financial strength into tangible benefits for its members.

“Our goal is not simply to build a stronger GSIS. Our goal is to make that strength felt by every member and every family we serve. Ang pondo ng GSIS ay para sa ginhawa ng ating mga miyembro,” he said.

This is a news release from GSIS.