Daily TribuneIn just 16 months, MPL Flex has become a cornerstone of GSIS’s financial assistance initiatives, offering government employees loans of up to 14 times their monthly base pay, capped at P5 million, with a six percent annual interest rate and repayment terms extending to 15 years.
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Roland Daleon Satin, a Master Teacher from Mayo Crossing Elementary School in Lucena City, working at his computer shop established through a GSIS MPL Flex loan to support the local community and students in blended learning.
photograph courtesy of gsis
The Government Service Insurance System’s (GSIS) flagship loan initiative reached new heights in 2024, with its Multi-Purpose Loan (MPL) programs providing crucial financial support to more than 1.2 million government employees nationwide.
Since its launch in September 2023, the GSIS MPL Flex program has disbursed P282 billion to 1,049,246 members, with a remarkable 35.5 percent increase from P208.17 billion in its first year of implementation. An additional P7.2 billion was extended to 197,675 members under MPL Lite.
In just 16 months, MPL Flex has become a cornerstone of GSIS’s financial assistance initiatives, offering government employees loans of up to 14 times their monthly base pay, capped at P5 million, with a six percent annual interest rate and repayment terms extending to 15 years.
“The rapid growth of MPL Flex in less than two years demonstrates both the program’s effectiveness and the significant demand for flexible financial solutions among our members,” said GSIS president and general manager Wick Veloso.
The program’s impact extends beyond individual borrowers to benefit entire communities. Roland Daleon Satin, a Master Teacher at Mayo Crossing Elementary School in Lucena City, used his MPL Flex loan to establish a computer shop that serves local remote workers. When the shift to blended learning began, Satin reduced his rates to help students continue their education.
“I saw an opportunity to not only create additional income for my family but also support our community’s needs,” Satin said. “By offering affordable computer access and printing services to students, we are helping them pursue their education while building a sustainable business.”
“This success story — one of many — demonstrates how MPL Flex empowers our members to grow their enterprises and secure additional income streams,” Veloso said. “The program enables our members to diversify their investments while managing their families’ needs.”
Through GSIS’s enhanced digital platforms, members can now complete their loan applications online. The GSIS Touch mobile app offers 24/7 access to loan services, allowing members to apply, track their applications, and manage their accounts from anywhere, anytime. These digital innovations have significantly reduced processing time, with approved loans now credited to members’ e-Card accounts within 24 hours after agency approval.
The robust performance of GSIS’s loan programs is backed by exceptional financial performance as of the third quarter of 2024.
The pension fund’s total assets grew 8 percent to P1.8 trillion, while net income from operations jumped 58 percent to P120 billion.
Overall revenues reached P258 billion, marking a 27 percent increase from the previous year’s P204 billion. The pension fund’s non-life insurance business further strengthened its financial position, generating P8 billion in gross premiums written, a 60 percent increase from the previous year’s P5.5 billion.
“Our strong financial performance strengthens our capacity to serve our members through accessible loan programs while securing the long-term sustainability of their benefits,” Veloso said.
