Jauhn Etienne Villaruel

Article (news)

GSIS

ABS-CBN News

<div><span class="fr-img-caption fr-fic fr-dib" style="width:960px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/1761012102955cropped-photo-collage.png (2).png" style="width:960px" class="fr-fic fr-dib"/><span class="fr-inner" style="text-align:left">Jose Arnulfo ‘Wick’ Veloso, president and general manager of the Government Service Insurance System, has rejected calls for his resignation, saying the life of the state pension fund has been extended to 2058. Mark Demayo, ABS-CBN News/File</span></span></span></div><p>MANILA <strong>(2nd UPDATE) </strong>— The Government Service Insurance System (GSIS) on Tuesday confirmed the appointment of three new trustees following the reported resignation of some board members in the wake of their rift with the agency&#x27;s president and general manager Wick Veloso.</p><p>In a statement, GSIS said welcomed the following new trustees: </p><p>• Gilbert Tan Sadsad, President of the Philippine Public School Teachers Association (PPSTA)</p><p>• Enrico Gregorio Molina Trinidad </p><p>• Cenon Cruz Audencial Jr.  </p><div><a href="https://www.abs-cbn.com/news/business/2025/10/20/wick-veloso-rejects-resign-call-says-gsis-fund-life-up-to-2058-1005">Wick Veloso rejects resign call, says GSIS fund life up to 2058</a></div><p>The GSIS noted that Trinidad and Audencial are representatives from the Banking, Finance, Investment, and Insurance sectors.</p><p>&quot;We look forward to working with them, knowing their extensive experience will be invaluable as we build on the pension fund’s historic gains,&quot; GSIS said.</p><p>In an earlier statement, Veloso said he was not aware of the resignations, and was only informed about the new appointment on Monday. </p><p>&quot;[T]o the best of my knowledge, I have not officially received copies of their resignation letters. What we have received are the appointment papers of the new trustees from Malacañang, which were officially transmitted to the GSIS Office of the President and General Manager (OPGM) yesterday (Monday),&quot; Veloso said.</p><p>Some board members have accused Veloso of mismanaging the state pension fund, citing his alleged questionable investments. </p><p>In a letter released to the media on Friday, several trustees, including former Ombudsman Merceditas Gutierrez, asked Veloso to resign due to questionable investments allegedly leading to losses of over P8 billion.</p><div><a href="https://www.abs-cbn.com/news/nation/2025/10/20/palace-on-calls-to-remove-gsis-chief-there-must-be-basis-1602">Palace on calls to remove GSIS chief: &#x27;There must be basis&#x27;</a></div><p>Veloso earlier rejected calls for his resignation, saying the life of the state pension fund has been extended to 2058. </p><div><br/></div><div><strong>—Reports from Mio Cruz and Jessica Fenol, ABS-CBN News</strong></div><div><br/></div><div><strong>RELATED VIDEO</strong></div><div><br/></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/N2FA0PyZZb0?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span></div>

<p>GSIS president Jose Arnulfo "Wick’" Veloso earlier rejected calls for his resignation, saying the life of the state pension fund has been extended to 2058.</p>

GSIS president Jose Arnulfo "Wick’" Veloso earlier rejected calls for his resignation, saying the life of the state pension fund has been extended to 2058.

GSIS names new trustees after reported resignation of some board members

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GSIS names new trustees after reported resignation of some board members

ABS-CBN News

Published October 21, 2025 10:22 AM PHT

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Updated October 21, 2025 01:58 PM PHT

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GSIS

Wick Veloso

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