GSIS net income hits P100B at end-August

THE GOVERNMENT Service Insurance System (GSIS) had posted a net income of P100.02 billion as of end-August, driven largely by robust investment performance, the state pension fund said on Sunday.

“This means that GSIS is not only protecting our members’ contributions but also growing them through strategic and responsible investing,” GSIS President and General Manager Jose Arnulfo A. Veloso said in a statement.

About half of the fund’s income during the period came from investments, according to its August financial records. The GSIS said total assets rose to a record P1.92 trillion.

Mr. Veloso said the fund’s solid performance in the first eight months of the year would support its 1.7 million members and pensioners. — A.M.C. Sy