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Logo of the Government Service Insurance System
GSIS via Facebook
MANILA, Philippines — The Government Service Insurance System (GSIS) on Wednesday, August 6, vowed full transparency and accountability following public scrutiny over its investment in the online gambling sector and other firms flagged for risk exposure.
This comes after Sen. Risa Hontiveros raised alarm over what she called “shocking” investment decisions by the state pension fund, including over P1 billion poured into an online gambling platform.
Hontiveros questioned GSIS’ purchase of preferred shares in unlisted companies and its P1.45-billion stake in Alternergy Holdings Corp.
In a statement on Wednesday, the GSIS said it welcomes "scrutiny and call for public disclosure," adding that it is prepared to submit all relevant documents to regulatory bodies.
"As stewards of public trust, we affirm our unwavering commitment to act in the best interests of our members and pensioners," the GSIS said.
The agency said the social insurance fund remains “strong, secure, and actuarially sound,” with P1.88 trillion in total assets and P76.82 billion in net operating income as of June 2025, a 31% increase from last year.
The agency also noted that it has posted a five-year average return on investments of 6.75%.
Still, the GSIS acknowledged the need to reassess its internal safeguards, saying that "public trust must be continuously earned."
"We recognize that public trust must be continuously earned," the agency said, vowing a comprehensive review of its charter, investment policies, and sectoral exposure, especially in high-risk or sensitive industries.
"This will ensure alignment with our members’ evolving expectations and the highest standards of ethical and fiduciary responsibility," it added.
GSIS said that its investment strategies are aligned with its mandate "to protect and grow the hard-earned contributions of government workers."
