The Daily Tribune
Marcos reviewing GSIS complaints vs Veloso
President Ferdinand Marcos Jr. is reviewing calls for the removal of Government Service Insurance System (GSIS) President and General Manager Jose Arnulfo "Wick" Veloso due to allegations of gross mismanagement and policy violations.
Presidential Communications Office Undersecretary Claire Castro stated that the President expects agency heads to show proper leadership and that complaints must be studied thoroughly.
The calls for Veloso's resignation stem from claims that his actions led to P8.8 billion in investment losses for the state pension fund.
Veloso is accused of splitting investment transactions to bypass the GSIS Board's approval for managing the investment fund.
He has denied the accusations, asserting that the GSIS pension fund remains solvent and has a fund life extending up to 2058.
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The Philippine Government Employees Association (PGEA) has expressed skepticism regarding claims of financial losses at the Government Service Insurance System (GSIS).
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Three organizations representing government employees and retirees have expressed their full support for the leadership of the Government Service Insurance System (GSIS) under President and General Manager Jose Arnulfo "Wick" Veloso.
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The Government Service Insurance System (GSIS) has appointed three new trustees: Gilbert Tan Sadsad, representing the Philippine Public School Teachers Association, and Enrico Gregorio Molina Trinidad and Cenon Cruz Audencial Jr., representing banking, finance, investment, and insurance sectors.
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