The Government Service Insurance System (GSIS) commenced the disbursement of refunds under its Balik Ginhawa (Loan Moratorium Through Refund) program last Wednesday.
The initiative is set to release over ₱19 billion to approximately 1.37 million qualified members and pensioners nationwide.
As of April 8, 2026, the pension fund has already approved refunds for 431,000 beneficiaries, totaling ₱6.2 billion in processed payments.
Unlike traditional moratoriums that simply halt collections, the Balik Ginhawa program uses a modified approach. While regular loan deductions continue to ensure account consistency, GSIS returns the equivalent of up to three months of loan amortizations in one lump sum.
“The crediting of refunds has begun. Our goal is to provide immediate relief, and we are ensuring that within three working days of application approval, members will receive their funds,” said GSIS President and General Manager Wick Veloso.
The program is designed to be user-friendly and voluntary, featuring the following highlights:
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Fast Processing: Refunds are credited to accounts within three working days following approval.
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Zero Extra Costs: No additional interest or penalty charges are applied to the refund.
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Flexible Extension: The loan term is simply extended by the number of months refunded (up to three months).
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Eligibility: Open to members and pensioners with active loan accounts that are not in default and have recorded payments between December 2025 and February 2026.
To ensure efficient processing and security, applications are accepted exclusively through the GSIS Touch mobile app. This application-based system ensures that the financial assistance reaches those who actively seek and need the relief.
The deadline for application is October 31, 2026.
