The Government Service Insurance System (GSIS) saw a 21 percent jump in its net income from operations in 2024, amounting to P135.7 billion from P112.1 billion a year ago, the state pension fund said in a statement Monday.
According to GSIS, its total income rose to P326.86 billion in 2024, a 10.29 percent increase year-on-year, fueled by strong returns on investments and insurance operations.
Investment gains included P13.27 billion from foreign exchange, P11.24 billion from global private equity investments through external fund managers and P3.09 billion from local equity investments, the pension fund said.
“We maintain a prudent investment strategy, allocating 70 percent of our portfolio to government securities and other fixed-income instruments,” said Wick Veloso, GSIS president and general manager.
“The remaining 30 percent is strategically placed in higher-yielding investments, including equities, real estate and other vehicles, all managed within our strict risk parameters. This balanced approach ensures both stability and growth, supporting our fund life, which extends until 2058,” he added.
GSIS said its assets grew by 9.23 percent year-on-year to P1.83 trillion in 2024.
Meanwhile, the agency said it was able to reduce administrative expenses from P10.14 billion in 2023 to P8.92 billion in 2024.
