The Ombudsman has lifted the preventive suspension of the head of the Government Service Insurance System (GSIS), the state pension fund said Friday.
The Office of the Ombudsman suspended GSIS president and general manager Jose Arnulfo Veloso and several other officials in July 2025 over an administrative case involving the fund’s acquisition of shares in an energy company.
The suspension was lifted because “the document/evidence pertaining to the disposition of the case are already on hand” and there was “insufficient ground to believe that their continued stay in office may prejudice the investigation,” the Ombudsman said in its order.
The case stemmed from GSIS’s acquisition of 100 million perpetual preferred shares worth P1.45 billion from Alternergy Holdings Corp. through a subscription agreement.
Veloso said in a statement he respects the decision and looks forward to returning to his duties.
“The findings of the Ombudsman affirm that there is insufficient ground to believe that my continued service would prejudice the ongoing investigation,” Veloso said.
He said he would “continue the work of protecting and growing the GSIS fund for the future of all government workers.”
 head Jose Arnulfo Veloso.){kind=link}