Manila: The Government Service Insurance System (GSIS) announced on Tuesday that it has released loan amortization refunds totaling PHP7.3 billion to more than 525,000 members and pensioners under its Balik Ginhawa program as of April 20.

According to Philippines News Agency, the payouts covered 525,447 approved applications out of the 598,420 received, which means nearly nine out of ten applicants have received their refunds. GSIS is still processing the remaining applications and has instructed partner banks to complete the crediting of about PHP7.5 billion. The remaining balance is expected to be deposited within the next few working days.

GSIS President and General Manager Jose Arnulfo Veloso indicated that these refunds are part of the government's broader response to combat rising living costs. Veloso stated, "Ang Balik Ginhawa ay tumatalima sa utos ng mahal na Pangulo na makapagbigay ng agarang tulong sa aming mga miyembro at pensyonado," which translates to "Balik Ginhawa complies with the directive of the President to provide immediate assistance to our members and pensioners."

The program provides a one-time refund for qualified borrowers, equivalent to up to three months of loan amortizations covering December 2025 to February 2026, without additional interest or penalties. Regular deductions continue, with loan terms extended accordingly.

GSIS has made the application process accessible through the GSIS Touch mobile app, allowing members to check their eligibility and refundable amount before submission. Approved refunds are credited within three working days, while those who do not meet the requirements are notified through the same platform.

The Balik Ginhawa initiative is part of the government's Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT), aiming to mitigate the impact of the fuel crisis on workers and their families. Applications for the program remain voluntary and open until October 31, 2026.