A group of education workers led by the Alliance of Concerned Teachers (ACT) has called for the resignation of GSIS President Jose Arnulfo “Wick” Veloso over reported losses of P8.8 billion and questionable gambling-related investments.
ACT supports the GSIS Board of Trustees’ move to remove Veloso, accusing him of betraying the trust of government workers who rely on the pension fund for retirement security.
Public school teachers, who make up the largest group of GSIS members, have been hit hardest by the losses and high loan interest rates.
ACT criticized Veloso’s P1.45 billion investment in gambling companies as morally wrong and financially reckless.
The group demands a full audit, accountability, and steps to recover lost funds to protect the hard-earned money of government employees.
Source: PhilNews24 | October 19, 2025
GROUP URGES GSIS CHIEF VELOSO TO RESIGN OVER P8.8-B LOSSES AND GAMBLING INVESTMENTS
Latest from News
The national government has launched the “Bagong Bag para sa Mag-aaral” program to provide school bags
A cooperative composed of active and retired military personnel has expanded into the aviation sector with
PhilHealth said it has reached out to the family of a deceased member after a widow’s
The death toll from the recent earthquake in Mindanao has risen to 61, with 54 fatalities
The Philippine National Police (PNP) has intensified operations against scam hubs that have allegedly resurfaced as