Teachers’ group lambasted GSIS over alleged P1B investment in e-gambling ventures
The Alliance of Concerned Teachers (ACT) National Capital Region (NCR) Union has condemned the Government Service Insurance System (GSIS) over its alleged P1 billion investment in online gambling operations, calling it a betrayal of public funds.
In a statement, the group criticized the alleged investment as a risky use of government employees’ retirement funds, including those of public school teachers.
“This is an unconscionable abuse of our hard-earned contributions, bilang isa sa pinakamalaking bahagi ng contribution sa buong ahensya [This is an unconscionable abuse of our hard-earned contributions, especially considering that we are among the biggest contributors to the entire agency],” said ACT-NCR Union president Ruby Bernardo.
Bernardo stressed that the GSIS must serve as a responsible steward of public funds, pointing out that the contributions come from government workers who set aside a portion of their “already meager salaries” with the promise of financial security upon retirement.
“Teachers and other government employees live paycheck to paycheck, yet we contribute to GSIS believing our money is invested wisely and ethically. Instead, we discover our pension fund is being used to support an industry that destroys families and communities through gambling addiction,” Bernardo said.
ACT-NCR then called on GSIS to ensure transparency in its investment decisions and to withdraw funds currently invested in online gambling operations.
“Our members deserve to know where every peso of their contributions is invested. Hindi pwedeng nakatago sa dilim ang mga desisyong ito habang kami ay nagtitiis sa mababang sahod at kulang na resources sa classroom [These decisions cannot remain hidden in the dark while we endure low salaries and a lack of classroom resources],” Bernardo added.
This came after Senator Risa Hontiveros, in a privilege speech during Tuesday’s plenary session, disclosed the alleged investment.
