GSIS income soars to P80 B in 10 months

The Government Service Insurance System (GSIS) saw its net income more than double to P80 billion in 10 months on the back of strong revenues from financial assets.

- LOUISE MAUREEN SIMEON

In a statement, the pension fund for state workers said it earned P80 billion from January to October, a sharp increase from last year's P37billion.

GSIS president and general manager Wick Veloso said the performance was driven by strong revenues from financial assets which surged four-fold to P29 billion.

As such, the 10-month income is about 67 percent of the P120 billion income target of GSIS for the year.