GSIS chief submits courtesy resignation

Government Service Insurance System (GSIS) President and General Manager Jose Arnulfo "Wick" Veloso submitted his courtesy resignation to the Office of the Executive Secretary amid the government realignment plan of President Ferdinand Marcos Jr.

"In line with the President’s call, I have submitted my courtesy resignation without hesitation or reservation," he told the media in a text message on Thursday.

Veloso assumed office in July 2022 after serving as the president and chief executive officer of Philippine National Bank.

"After three decades of working in banks, it’s now time for me to use what I have learned in international finance and banking to contribute to nation building," he said following his appointment as the GSIS chief.

Veloso said his submission of the resignation letter indicates his support for Marcos's goal to accelerate national progress.

"I did so out of respect for his leadership and to give him full discretion in determining the best path forward for his administration," he said.

"When I accepted this role, I did so fully aware that I serve at the pleasure of the President, and I remain ready to serve, in whatever capacity he deems best, for the good of the country and the Filipino people," Veloso continued.

Under his leadership, GSIS launched its mobile app GSIS Touch with  facial authentication which protects members from financial scams and identity theft.

GSIS Touch enables members to apply for life and retirement claims and loans, and check loan records and status.

Veloso said the app has been used by 82 percent of total retirees and 85 percent of all survivorship beneficiaries to submit proof of life.

Last year, he also introduced a new scholarship program for 2025 in place of its Educational Subsidy Program.

GSIS said the new program will focus on supporting students who are taking courses on science, technology, engineering, or math.

Veloso said GSIS provided more Filipinos funds for business capital and personal needs through three types of GSIS multipurpose loans (MPL): MPL Max, MPL Flex, and MPL Lite.

Veloso shared that MPL Flex attracted nearly 5 million clients who received a total loan of P315 billion.

"Some of them used the loan to put up computer shops and food businesses," he said.