Over P9B in loan amortizations refunded under expanded moratorium relief —GSIS

The Government Service Insurance System (GSIS) said Tuesday it has refunded over P9 billion in loan amortizations under its “Balik Ginhawa 2” or Loan Moratorium Through Refund.

In a news release, GSIS said the amount was refunded to over 500,000 members and pensioners “in just 24 days since the program’s expanded implementation, in line with President Ferdinand Marcos Jr.’s directive to provide timely financial relief to Filipinos.”

The total of P9.06 billion refunded loan amortization only “represents Balik Ginhawa 2 alone,” according to the pension fund.

Combined with the refunds released under the first “Balik Ginhawa,” GSIS said it has returned over P18 billion in loan amortizations to qualified members and pensioners.

The pension fund said that while the original “Balik Ginhawa” was implemented over about three months, the “Balik Ginhawa 2” reached the P9-billion milestone and benefited more than 500,000 members and pensioners in less than a month.

The Balik Ginhawa Program allows qualified borrowers to recover previously paid monthly loan amortizations through refunds credited directly to their GSIS eCard.

The refunds provide members and pensioners with additional funds for their immediate needs while allowing them to continue paying their loans under the original terms.

Instead of paying the refunded amortizations, borrowers simply complete them through a corresponding extension of their loan term.

To ensure that qualified borrowers receive their full benefit, GSIS said it has introduced a new feature in the GSIS Touch mobile application that enables members and pensioners who received less than their expected refund to check whether they still have a remaining refundable amount and immediately apply for it.

GSIS president and general manager Wick Veloso said the new feature reflects the pension fund’s commitment to ensuring that no qualified member or pensioner is left behind.

“Through this feature, we are making sure that those who are still entitled to a refundable amount can easily verify their eligibility and receive the remaining benefit due them,” said Veloso.

The “Balik Ginhawa 2” has expanded the program’s coverage from three to as many as six monthly loan amortizations.

While the original implementation covered eligible payments made from December 2025 to February 2026, the expanded program now also covers eligible payments made from March to May 2026, allowing qualified borrowers to recover up to six months of loan amortizations, subject to the program’s terms and conditions.

Members and pensioners who received only a partial refund may still qualify for the balance of their refundable amount by logging in to the GSIS Touch mobile application and submitting another application, if eligible, it said.

GSIS said the availment of Balik Ginhawa remains voluntary. —AOL, GMA News