By Tracy Cabrera
IN line with President Ferdinand ‘Bongbong’ Marcos Jr.’s directive to all government agencies to initiate immediate relief to distressed sectors, the Government Service Insurance System (GSIS) has begun releasing refunds under its Balik Ginhawa (Loan Moratorium Through Refund) program to qualified members and pensioners.
According to GSIS president and general manager Jose Arnulfo ‘Wick’ Veloso, the refunds are credited within three working days upon approval of applications through the GSIS Touch mobile app.
The program, which has been funded with over ₱19 billion, is expected to benefit 1.37 million qualified GSIS members and pensioners as part of the Marcos administration’s efforts to ease the financial burden of crisis-stricken Filipinos.
Under the program, GSIS implements a modified loan moratorium where regular loan deductions continue but the equivalent of up to three months of loan amortizations is returned to borrowers in one lump sum.
As of April 8, 2026, a total of 431,000 members and pensioners have already qualified for the program, equivalent to ₱6.2 billion in refunds.
“Nagsimula na po ang pag-credit ng refunds sa ating mga miyembro. The program aims to provide immediate relief, and Veloso assured that members will receive their refunds within three working days after their applications are approved.
He added that the program is application-based to ensure that assistance reaches those who need it most. Eligible borrowers are members and pensioners with existing loan accounts that are not in default, have no arrears and have recorded loan payments during the covered period from December 2026.
