In addition, GSIS has realized a "paper gain" of P283 million from its current portfolio of investments at the stock market.
GSIS executive vice president and chief operating officer Reynaldo Palmiery said if this is added to the actual gain, the total realizable stock market trading profit of GSIS will reach P463 million for the first two months this year.
The system has P184 billion in investible funds coming from members’ contributions.
The pension fund meanwhile extended loans to non-member institutions such as the Philippine Estate Authority (PEA), which secured a P1-billion five-year medium term loan. It has a two-year grace period on principal in semi-annual payments.
It will be guided by a fixed interest rate equivalent to the yield-to-maturity (YTM) for five-year Philippine fixed rate Treasury notes (FXTNs) but not lower than 14-percent payable semi-annually.
Meanwhile, GSIS registered gross revenues of P60 billion as of end February, up from the P57.44 billion registered last year and the P54.21 billion registered in 2000.
Net operating revenues reached P21.87 billion or six percent better than the P20.56 billion recorded in 2000.
Net income last year reached P30 billion and it is targetted to reach P33 billion this year.
But the government pension fund must collect its arrears this year to cover an employees compensation package amoutning to roughly P3 billion.