Teachers and government employees on Monday, October 27, expressed strong support for a congressional investigation into the reported P8.8 billion losses and alleged dubious investments of the Government Service Insurance System (GSIS).

The Alliance of Concerned Teachers (ACT) Philippines backed the House resolutions filed by the Makabayan bloc, led by ACT Teachers Party-list Rep. Antonio Tinio and Gabriela Women’s Party Rep. Sarah Elago, seeking a full probe into the GSIS’s financial dealings.

The call for accountability follows revelations from current and former GSIS trustees who have urged the resignation of GSIS President and General Manager Jose Arnulfo “Wick” Veloso over what they described as high-risk and poorly vetted investments that resulted in huge losses, violations of fiduciary duties, and a lack of transparency.

“Teachers and government employees sacrifice portions of their already meager salaries for their GSIS contributions, trusting that their hard-earned money will be managed prudently and ethically,” said ACT Chairperson Ruby Bernardo.

“It is utterly unacceptable that these funds are being gambled away through volatile and even gambling-related investments,” she added.

Bernardo said the reported losses and questionable investments represent gross mismanagement and a betrayal of public trust, as GSIS funds come from the lifelong savings of millions of government workers.

While Veloso has touted the GSIS’ “strong growth,” ACT argued that members have not benefited, citing low dividends, mounting arrears, and loan policies that have pushed many teachers into deeper debt.

ACT also alleged that teachers receive little to no returns from decades of mandatory contributions while facing exploitative loan terms that worsen their financial hardship — stressing that the issue underscores the urgent need for transparency and reform in GSIS operations.

The group noted that even as public school teachers are on a so-called “wellness break,” teacher-leaders remain focused on protecting their pension and insurance funds — a key part of their fight for better welfare and financial security.

“These efforts are part of the people’s broader demand to end corruption and hold accountable those who plunder public resources in every form and level,” Bernardo said. “Teachers will not remain silent while their future is gambled away,” she added.

ACT and the Makabayan bloc vowed to continue pushing for transparency, accountability, and justice in GSIS operations to ensure that every peso contributed by public servants truly serves their welfare — not the “pockets of the corrupt.”