GSIS defends billion-peso bet on DigiPlus

The Government Service Insurance System (GSIS) last week stood firm behind its ₱1-billion investment in DigiPlus Interactive Corp., insisting that the state pension fund remains “strong, secure, and actuarially sound” despite growing criticism and heightened congressional scrutiny.

In a statement, GSIS welcomed the public interest in its investment decisions and expressed readiness to submit all pertinent documents to regulators.

“We affirm our unwavering commitment to act in the best interests of our members and pensioners,” GSIS said. “We remain guided by our mandate: to protect and grow the hard-earned contributions of government workers.”

The defense comes amid backlash over the pension fund’s placement in an online gaming company. Senator Risa Hontiveros, in a privilege speech Tuesday, branded the move as “alarming,” questioning the prudence of investing in an industry currently under government crackdown.

“You heard that right — GSIS invested over P1 billion in online gambling,” Hontiveros said, noting that the shares were purchased at ₱65.30 but have since plummeted to ₱13.68. She emphasized that GSIS funds are vital for the welfare of public servants, including teachers, police officers, and healthcare workers.

The senator also cited the recent preventive suspension of GSIS President and General Manager Jose Arnulfo “Wick” Veloso and six other officials, which added to the controversy surrounding the agency.

Despite the criticism, GSIS highlighted its financial stability, reporting ₱1.88 trillion in total assets and ₱76.82 billion in net operating income as of June 2025 — a 31-percent increase from the same period last year. The pension fund also posted a five-year average return on investment of 6.75 percent.

Acknowledging public concerns, GSIS said it would revisit its charter and investment policies, particularly its risk exposure thresholds, to ensure alignment with its mission and the evolving financial landscape.

“Public trust must be continuously earned,” the agency stressed, assuring stakeholders of transparency and accountability moving forward.