GSIS denies P8.8-B loss, cites P100-B income

The Government Service Insurance System (GSIS) has denied reports of an alleged P8.8-billion loss, stressing that its finances remain solid with a record P100.02-billion net income as of August 2025.

In a statement, the state pension fund said the figures circulating online are “without basis” and “do not exist in any official financial record” of the GSIS.

“The allegations are based on incomplete information,” the agency said. “We invested in a publicly listed holding company, not in a gambling operation. Every investment undergoes rigorous evaluation, risk assessment, and strict compliance with laws and regulations.”

GSIS emphasized that its fund remains secure and continues to grow. Total assets have reached P1.92 trillion—an increase of more than P400 billion since 2022—while its fund life remains protected until 2058.

According to GSIS President and General Manager Wick Veloso, the strong numbers reflect prudent management and the agency’s focus on responsible investing.

“This means that GSIS is not only protecting our members’ contributions but also growing them through strategic and responsible investing,” Veloso said.

Financial stability, real impact

GSIS’s total income as of August reached P231.06 billion, exceeding its target by 51 percent. Nearly half of its earnings came from investments, demonstrating the strength of its portfolio despite market fluctuations.

The agency also underscored that its consistent growth directly benefits its 1.7 million members and pensioners.

“Behind every number are teachers and other government workers whose trust we hold sacred,” Veloso said.

“We will continue to make every peso count and deliver true Ginhawa for All.”

One of them, public school teacher Veverlie Padernal from Bukidnon, shared how GSIS’s Multi-Purpose Loan Flex program helped her family recover after a difficult time.

“Because of the MPL Flex, I was able to buy a house and a piece of land — and even start a motorcycle parts business,” she said in Filipino.

GSIS said stories like Padernal’s embody the true purpose of its financial stewardship — to ensure that members’ contributions are safe, growing, and working to improve their lives.

Integrity and accountability

Reaffirming its mandate, GSIS said its management operates under the strictest governance standards set by Republic Act 8291.

“Our financial data provides clear, measurable evidence of the strength of our management and strategy,” the agency said.

“Our mandate is to our members. Our guide is verifiable data. Our mission is to secure their future.”

Veloso has resumed his duties as GSIS president and general manager following a preventive suspension, ensuring continuity in the leadership that delivered the fund’s best performance to date.