The Government Service Insurance System (GSIS) on Monday expressed full support for the House of Representatives’ inquiry into its investment activities, saying it views the move as part of its ongoing effort to strengthen transparency, accountability, and good governance.
GSIS President and General Manager Wick Veloso said the pension fund welcomes oversight measures that allow the public to see how it responsibly manages the contributions of government workers and pensioners.
“All our investments follow three fundamental principles — safety, liquidity and yield. Every investment undergoes rigorous evaluation by our Investment Committee, Risk Oversight Committee and the Board of Trustees, in compliance with Republic Act 8291,” Veloso said.
He added that the GSIS continues to actively engage with stakeholders, including teachers’ organizations and retirees’ associations, to address their concerns and ensure accurate information is shared.
“The House inquiry gives us another opportunity to reaffirm our commitment to openness and to assure our members that GSIS operates within the highest standards of integrity and governance,” he added.
Veloso also assured that the pension fund remains financially strong, with total assets amounting to ₱1.92 trillion and a net income of ₱100 billion as of August this year.
“These figures clearly show that the fund continues to grow and remains secure,” Veloso said, assuring GSIS’s 2.7 million members and pensioners that their contributions are being safeguarded through prudent investment practices.
He clarified that reports of an alleged ₱8.8-billion loss were unfounded and not reflected in GSIS’s audited financial statements.
The GSIS reaffirmed that it continues to act within its legal and policy framework, guided by its mission to ensure a stable and sustainable future for all government employees and pensioners under its core principle of “Ginhawa for All.”