State-run pension fund Government Service Insurance System said Friday net income in the first half of 2023 jumped 20-fold to
P61 billion from P3 billion a year ago, driven by strong revenues and an improvement in the revenue-to operating expense ratio to 2 percent from 5 percent.
“Although these expenses have grown, the rate of increase was slower… A key factor in keeping expenses under control has been the careful management of operational costs,” Veloso said. Veloso said the fund life of GSIS was now at 2058 or 35 years, which was achieved through enhanced data analytics and sustained investment returns.
GSIS is showcasing its commitment to the nation’s growth story by investing in vital sectors such as real estate, infrastructure, food, energy and mining. Total investment in the domestic sectors reached P1.2 trillion in the first six months. Global investments also rose 8 percent to P204 billion.
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