MANILA – More than 1.37 million members and pensioners of the Government Service Insurance System (GSIS) will benefit from over PHP19 billion in loan refunds under the agency’s Balik Ginhawa (Loan Moratorium Through Refund) program.
The initiative will reimburse loan payments made from December 2025 to February 2026, providing financial relief to borrowers with active GSIS loan accounts.
Based on GSIS records, monthly loan amortizations typically range between PHP4,000 and PHP39,000, which could amount to PHP12,000 to PHP117,000 in total payments over three months.
Instead of halting loan collections, the program allows deductions to continue while the agency refunds up to three months of amortizations in one lump sum payment.
GSIS President and General Manager Wick Veloso said the scheme is designed to offer quicker assistance compared to a standard loan moratorium.
“Rather than simply pausing payments, we are giving back up to three months of amortizations at once, ensuring members receive immediate financial support,” Veloso said.
Only borrowers who made loan payments during the specified three-month period are entitled to receive refunds. Members and pensioners who had no payments during those months are not covered by the program.
ia/xf
