Senator Risa Hontiveros has called on the Government Service Insurance System (GSIS) to withdraw its P1 billion investment in online gambling firm DigiPlus, citing the industry’s social harms and a Commission on Audit (COA) report flagging the investment as non-compliant with laws and GSIS policies.

At a Senate hearing on questionable GSIS investments, Hontiveros questioned why the pension fund for public employees remains invested in DigiPlus despite the well-documented risks of online gambling.

“Dito sa Kongreso, papunta kami sa direksyon, at least ng striktong regulasyon kung hindi man total ban sa online gambling. Ayaw ba ng GSIS na unahan ang Kongreso to remove your valuable investment in an area, a policy area, na palayo doon? Doesn’t GSIS want to set a good example in this area dahil kayo nga yung stewards ng contributions ng ating mga miyembro?” Hontiveros asked GSIS President Wick Veloso.

Veloso said GSIS is waiting for market conditions to stabilize before pulling out, to protect returns. Hontiveros countered that the fund could easily be redirected to safer and more ethical investments, saying, “Di ko alam kung anong hihintay na stability sa market sa sector na iyan. Samantalang, yung isang bilyong piso na iyan pwedeng-pwedeng i-invest sa ibang investment na stable, safe, at higit na mas makatao kesa sa online gambling.”

While GSIS has profited from DigiPlus, the senator argued that financial gain doesn’t justify the social costs, such as gambling addiction, lost income, and family breakdown.

Veloso admitted GSIS did not consider social impacts when making the investment, focusing only on financial returns. Hontiveros pressed further, asking if GSIS treats all investments as neutral, even when clear harm is documented.

She also pointed out that COA had already flagged the investment for violating GSIS’ own rules, citing DigiPlus’ lack of a three-year track record and failure to pay dividends, as grounds for divestment.

“Hindi po natin kailangan o dapat hintayin na mag-stabilize yung market. Ngayon pa lang dapat tumugon na ng GSIS sa COA at iwasto yung paglabag, pati sa sariling charter. May gabay na po, two years standing ang COA sa inyo,” according to her.

Hontiveros concluded by urging GSIS to be more selective moving forward, especially when managing the hard-earned contributions of government workers.IMT