GSIS to review charter, policies

THE GOVERNMENT SERVICE Insurance System (GSIS) will review its charter and policies after its P1-billion investment into online gambling platform DigiPlus Interactive Corp. was questioned by a lawmaker.

“In light of recent developments, GSIS will continue to comprehensively review its charter, investment policies, risk exposure thresholds, and sectoral guidelines, particularly those involving sensitive or high-risk industries. This will ensure alignment with our members’ evolving expectations and the highest standards of ethical and fiduciary responsibility,” the state pension fund said in a statement on Wednesday.

Senator Ana Theresia Hontiveros-Baraquel in her privilege speech on Tuesday questioned GSIS’ investment in the company, noting the company’s shares have gone down since they were bought.

“GSIS got into this when Digiplus shares were being offered at a peak of P65.30. Those shares have since dropped to a low of P13.68. That’s a loss,” she said.

The GSIS said it would cooperate with oversight institutions and regulatory bodies in connection with the investment.

“We welcome the scrutiny and call for public disclosure from various sectors, and we are prepared to present all relevant documents and data to the appropriate authorities,” the state pension fund said.

The GSIS also assured its members and pensioners that the Social Insurance Fund remained sound despite its questionable investments.

“As of June 2025, GSIS has total assets of P1.88 trillion and recorded a Net Operating Income of P76.82 billion, representing a 31% increase compared to the same period last year. We have consistently enjoyed a five-year average return on investments at 6.75%,” it said. — Aaron Michael C. Sy