GSIS empowers over 5K beneficiaries with affordable home ownership
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NewsTranscript
00:00The Government Service Insurance System or GSIS has assisted over 5,000 individuals
00:05through its Pabahay sa Bagong Bayaning Manggagawa initiative, offering affordable housing via the
00:10lease with option to buy or LWOB and Housing Accounts Restructuring Condemnation Program
00:16or HARCP. As of December 2024, LWOB has helped over 3,000 households with properties valued at
00:252.84 billion pesos. HARCP has also provided relief to 1,618 borrowers, condoning 2.6 billion pesos
00:34in penalties and offering discounts. GSIS President Wick-Veloso emphasized home ownership
00:40is a basic human right and the programs help government employees secure their future.
00:45The initiative also contributed to GSIS' strong financial performance with assets growing 8% to
00:511.8 trillion pesos by the third quarter of 2024.