Philippine state pension fund profit nearly triples in Q1 2026

Total income rose 43.83% to $1.5b.

The Philippines’ Government Service Insurance System reported net income of $697.6m (P43.6b) in the first quarter of 2026, up 170% from $257.6m (P16.1b) in the same period last year.

GSIS said total income rose 43.83% to $1.5b (P95.8b), from $1.1b (P66.6b) in the first quarter of 2025.

Total assets reached $31.8b (P1.99t) as of 31 March, up $515.2m (P32.2b) from $31.4b (P1.96t) at the end of 2025.

The fund paid $792.0m (P49.5b) in claims and benefits to government workers, pensioners and their dependants during the quarter. 

This was $35.8m (P2.24b), or 4.73%, higher than a year earlier.

GSIS President and General Manager Jose Wick Veloso said the fund grew during the quarter whilst paying out more than it did in the same period last year.

Social insurance income, the fund’s main revenue source, rose 9.16% to $843.2m (P52.7b). 

GSIS said the increase was driven by higher members’ contributions, supported by a larger member base and stronger agency remittances.

($1.00 = P61.70)