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Manila Bulletin devider Philippines devider National devider Marcos won't ignore alleged GSIS investment loss—Palace

Marcos won't ignore alleged GSIS investment loss—Palace

Published Oct 23, 2025 05:53 pm
President Ferdinand R. Marcos Jr. (John Louie Abrina)
President Ferdinand R. Marcos Jr. (John Louie Abrina)
Malacañang made an assurance that President Marcos will take appropriate action on the issues surrounding the Government Service Insurance System (GSIS), including the reported P8.8-billion loss in investments.
The allegations will not be ignored by the President, Palace Press Officer and Communications Undersecretary Claire Castro said.
"Sa ngayon po, malalim pa rin po ang pag-aaral na ginagawa diyan. At lahat po ng alegasyon ay hindi po ito tutulugan ng Pangulo, at aaraling mabuti kung ito ay may katotohanan po (As of now, the matter is still being thoroughly studied. All allegations will not be ignored by the President, and they will be carefully examined to determine the truth)," Castro said in a Palace briefing on Wednesday, Oct. 22.
"So, makakaasa po kayo na gagawan po ito ng aksyon ng Pangulo So, you can be assured that the President will take appropriate action on this)," she added.
The Palace official stressed that Marcos is "personally studying the matter."
According to Castro, the President has already accepted the resignation of the three members of the GSIS Board of Trustees who called for the resignation of the pension fund’s president, Jose Arnulfo “Wick” Veloso.
Their replacement has yet to be identified, Castro said.
"Iyong pagri-replace po, abangan na lang po natin kung sino po ang itatalaga ng ating Pangulo sa mga nag-resign po (As for the replacements, let us just wait and see who the President will appoint to the positions vacated by those who resigned)," she said.

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