The Government Service Insurance System (GSIS) has taken a huge step forward in supporting its members, with its flagship Multi-Purpose Loan (MPL) program reaching new milestones in 2024. GSIS president and general manager Wick Veloso said the MPL initiative has expanded its reach, providing essential financial assistance to over 1.2 million government employees nationwide.
Launched in September 2023, the GSIS MPL Flex program has proven transformative. In 16 months, it disbursed P282 billion to 1,049,246 members, a 35.5 percent increase from P208.17 billion in its inaugural year. In addition, the MPL Lite program provided P7.2 billion to 197,675 members. The initiative has quickly become a cornerstone of GSIS’s commitment to improving the financial well-being of its members.
“The rapid growth of MPL Flex in less than two years speaks volumes about the program’s effectiveness and the high demand for flexible financial solutions among our members,” said Veloso. “This initiative is about more than just loans; it’s about giving our members the freedom to manage their financial needs, invest in their futures, and strengthen their families and communities.”
The MPL Flex program offers loans of up to 14 times a government employee’s monthly base pay, capped at P5 million, with a competitive 6 percent annual interest rate and repayment terms of up to 15 years. This flexibility has allowed members to meet a variety of personal and business needs—from home improvement to education, and even entrepreneurship.
Take the story of Roland Daleon Satin, a master teacher at Mayo Crossing Elementary School in Lucena City, who used his MPL Flex loan to start a computer shop serving local remote workers. “When blended learning began, I reduced my rates to help students continue their education,” Satin shared. “The loan gave me the chance to create a sustainable business while also supporting the needs of our community. We’re helping students while also securing additional income for my family.”
“This success story—and many others—demonstrates how MPL Flex empowers our members to grow their enterprises and diversify their income streams,” Veloso noted. “By offering our members the tools to build businesses and generate income, we are helping them secure a better future for themselves and their families.”
The impact of the program is further amplified by GSIS’s investment in digital innovation. Through the GSIS Touch mobile app, members now have 24/7 access to loan services, enabling them to apply for loans, track their applications, and manage their accounts anytime, anywhere. This digital shift has significantly reduced loan processing time, with approved loans now credited to members’ e-Card accounts within just 24 hours after agency approval.
The growth in member services is supported by the continued financial strength of the GSIS. As of the third quarter of 2024, the pension fund’s total assets grew by 8 percent, reaching P1.8 trillion. Net income surged by 58 percent, hitting P120 billion, while overall revenue climbed 27 percent, from P204 billion to P258 billion. GSIS’s non-life insurance business also performed strongly, with gross premiums written reaching P8 billion, a 60 percent increase from the previous year.
“Our solid financial performance ensures that we can continue to serve our members effectively and sustainably,” Veloso said. “It also gives us the strength to offer more accessible and flexible loan programs, all while safeguarding the long-term benefits of our members.”
