The Alliance of Concerned Teachers (ACT) Philippines has expressed support for a congressional investigation into the reported ₱8.8-billion losses and allegedly questionable investments of the Government Service Insurance System (GSIS).
The call follows a resolution filed by the Makabayan bloc in the House of Representatives, led by ACT Teachers Party-list Rep. Antonio Tinio and Gabriela Women’s Party Rep. Sarah Elago, seeking a thorough review of GSIS’s financial decisions.
The issue comes amid reports that some current and former GSIS trustees have urged GSIS President and General Manager Wick Veloso to resign over the alleged losses tied to risky investments.
According to ACT Chairperson Ruby Bernardo, teachers sacrifice a large portion of their salaries for GSIS contributions, trusting the agency to manage their hard-earned money responsibly.
Bernardo stressed that it is unacceptable for these funds to be placed in gambling-related investments, calling such actions a betrayal of public trust and a sign of mismanagement.
(PHOTO COURTESY: GSIS)
