GSIS president: Agency has enough funds to last for 31 years

By: Futch Anthony Inso - Multimedia Correspondent - CDN Digital | September 15,2022 - 06:47 PM
GSIS President and General Manager Jose Arnulfo Veloso assures that the GSIS has enough reserves and funds to last for 31 years. | Futch Anthony Inso

GSIS President and General Manager Jose Arnulfo Veloso assures that the GSIS has enough reserves and funds to last for 31 years. | Futch Anthony Inso

LAPU-LAPU CITY, Philippines — The Government Service Insurance System (GSIS) has enough reserves and fund life which will last for 31 years.

This was stated by GSIS President and General Manager Jose Arnulfo Veloso during his visit to Cebu on Wednesday afternoon, September 14, 2022.

Veloso is also confident that under his administration, he will be able to extend the agency’s fund life.

“Meron po, enough po ang reserve funds natin. 31 taon at kami po ay naniniwala na sa mga ginagawa namin mai-extend po namin lalo ang fund life,” Veloso said.

(We have, enough, our reserve funds. Thirty one years and we believe that with what we are doing we can still extend further the fund life.)

Among the strategies that GSIS is implementing is identifying their idle assets to put them in use and to add more funds to the state-run pension system.

Veloso said that they planned to sell or lease those non-earning assets and invest them in joint-venture projects, among others.

“We’re implementing strategies in terms of investments that will allow us to be able to come up with the right return. We’ve approved, three weeks ago, P125 billion that we can invest in infrastructure and that is to be able to help in the infrastructure program of the government,” he added.

Currently, Veloso is visiting different branches of GSIS in the country in order to pursue his plans.

Veloso also said that in his first and a half months as GSIS president, he was able to add P25 billion to the agency’s fund.

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TAGS: 31 years, Cebu‬, Cebu Daily News, cebu news, fund life, general manager, Government Service Insurance System, GSIS, GSIS president, reserves, Veloso

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