Manila: The Government Service Insurance System (GSIS) will release more than PHP19 billion under its Balik Ginhawa (Loan Moratorium Through Refund) program, benefiting 1.37 million members and pensioners with active loan accounts.

According to Philippines News Agency, the GSIS data show that monthly loan amortizations range from PHP4,000 to PHP39,000, depending on the loan amount, which equates to roughly PHP12,000 to PHP117,000 over three months. The program is set to cover loan payments made from December 2025 to February 2026. Refund amounts will vary depending on the number of payments borrowers made during this period.

Unlike a traditional moratorium, the GSIS will continue loan deductions while refunding up to three months of amortization in a single lump sum. GSIS President and General Manager Wick Veloso emphasized that the initiative is intended to deliver immediate and meaningful financial relief. 'This is a more responsive approach than a traditional moratorium. Instead of suspending payments, we are returning up to three months of amortizations in one lump sum, giving our members immediate support when they need it most,' Veloso stated.

Eligibility for the refund is limited to members and pensioners who made loan payments during the covered period. Those who did not make payments during these months will not qualify for a refund.