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“Ang sinasabing ‘P8.8-billion loss’ ay walang batayan. Ang numerong ito ay hindi umiiral sa anumang opisyal na talaan ng pananalapi ng GSIS (The claimed P8.8-billion loss has no basis. This number does not exist in any official financial record of the GSIS),” the state pension fund said in a statement issued Saturday, Oct. 18, 2025.
No basis for loss claim
GSIS said its investments undergo rigorous review and risk assessment, and that it invested in a publicly listed holding company—not a gambling firm, as alleged. It emphasized that all investments comply with laws and regulations.
The pension fund, which serves 1.7 million government workers, said its total assets have risen from P1.53 trillion in July 2022 to P1.92 trillion as of August 2025. Net income reached P100.02 billion, while fund life remains secure until 2058.
“Matatag ang aming performance at ligtas ang ating pondo (Our performance is strong and our funds are safe),” the agency said, noting that all benefits and loan releases continue to be paid on time.
GSIS cites strong performance
In a separate English statement, GSIS said its financial performance “speaks for itself,” reporting P231.06 billion in total income—51% above budget and higher than the previous year’s level.
“The current dissent arises from a difference in perspectives on investment strategy and governance philosophy,” it said. “Our leadership operates on a principle of professional, evidence-based fund management.”
The pension fund said its investment strategy focuses on long-term stability and that all decisions are made under Republic Act No. 8291, which governs the GSIS charter.
Veloso resumes leadership
GSIS confirmed that its president and general manager, Jose Arnulfo Veloso, has returned to his post following a preventive suspension, ensuring “continuity in the leadership that achieved this record-breaking performance.”
“We respect and defer to the legal process, but our focus remains unwavering: serving our members,” the agency said.
GSIS urged members to rely only on official announcements and verified data, asserting that the fund remains strong, transparent, and focused on protecting their future.
— Edited by Daxim L. Lucas
