GSIS chief named Asia’s Modern Hero for public service

MANILA, Philippines — Government Service Insurance System (GSIS) president and general manager Wick Veloso has been named Asia’s Modern Hero for his distinguished contribution to “Public Service and Financial Leadership.”

The award recognizes Veloso’s leadership in strengthening the state pension fund while expanding programs and services that directly benefit government workers and pensioners.

Veloso received the recognition from the Golden Icons Foundation and produced by Asia’s Golden Icon Awards and Events Inc. during the Asia’s Modern Hero Awards held at Okada Manila on Sept. 25.

The recognition comes as GSIS continues to strengthen its financial position while translating the pension fund’s growth into programs that provide immediate and practical support to its members and pensioners.

GSIS posted a net income of P94.75 billion in the first half, up by 27.8 percent from P74.2 billion in the same period last year. Gross income reached P195.38 billion, while total assets stood at P2.05 trillion as of end-June.

During the six-month period, the GSIS paid P94.67 billion in claims and benefits.

“This award serves to inspire us to do more, to protect and grow the GSIS fund, to embrace innovation and improve the lives of our stakeholders. Because in the end, leadership is not measured by how high the position we hold, but by the number of lives we touch through our service,” Veloso said.

One of the major initiatives under Veloso’s leadership is Balik Ginhawa, through which GSIS returned close to P20 billion directly to over 700,000 members as of Sept. 22. The refunds covered 1.6 million loan contracts, giving qualified government employees added financial breathing room for household expenses, education, medical needs, and other priorities.

The pension fund has likewise expanded financing programs that respond to changing member needs particularly at this time of national energy emergency, including green loan facilities for solar energy and electric mobility, as well as other member-focused programs designed to make affordable financing more accessible through digital channels.

Under Veloso’s leadership, the GSIS also accelerated its digital transformation. GSIS Touch surpassed two million registered users, giving members and pensioners 24/7 access to key services such as loan applications, claims, pension-related transactions, and the Annual Pensioners Information Revalidation.

The GSIS has reported that 99.6 percent of its services are already digitalized, reducing the need for members to visit branches and wait in line.

Veloso brought decades of banking and financial-market experience to GSIS when he assumed office as president and general manager in 2022.