Jose Arnulfo Veloso, president and general-manager of the Government Service Insurance System (GSIS), returned to a rousing welcome from employees on Monday after the Office of the Ombudsman lifted his preventive suspension.
Veloso, along with four other executives, was suspended in July 2025. The GSIS said in a statement that staff cheered, applauded and embraced him at the agency’s flag-raising ceremony on Sept. 23, 2025.
“It fills my heart with joy to finally stand before you again in our flag-raising ceremony,” Veloso said in a speech. “For the past sixty days, I deeply missed this moment of unity.”
He reaffirmed GSIS’s prudent management of members’ funds, stressing that “investing is never a game of chance but about calculated risks supported by research and professional judgment.”
Under his leadership, the fund grew by more than 22 percent to P1.88 trillion as of June 2025, from P1.54 trillion in 2022.
GSIS earned P172.7 billion in the first half of 2025, with net income reaching P77 billion, or over 30 percent higher year-on-year.
Veloso called on all employees to rise above challenges, focus on growth and work together to transform GSIS into a world-class pension institution.
