GSIS Chief Veloso urges stronger ASEAN social security bloc, pushes for unified economic strategy

BANDAR SERI BEGAWAN, BRUNEI DARUSSALAM – In a move to fortify the ASEAN Social Security Association (ASSA), GSIS President and General Manager and former ASSA Chairman for the 2024-2025 term Wick Veloso, is advocating for a more cohesive and powerful regional economic strategy.

During the 42nd ASSA Board Meeting held here, Veloso underscored the need for the association to become a formidable force in the global landscape by aligning with the broader economic ambitions of the ASEAN region.

“ASEAN has a combined population that is half of China’s and represents a 1.3 trillion-dollar organization of long-term funds,” Veloso said. “We must ask ourselves if we are truly leveraging this collective strength. It is imperative that we understand the strategic priorities of our economic leaders, from major infrastructure projects like the ASEAN highway to critical initiatives in data and food security.”

Veloso challenged the member institutions to look beyond their individual mandates and collaborate on a unified front. He stressed that by organizing as a single economic bloc, ASSA can significantly enhance its influence and ensure the long-term sustainability of its funds for the benefit of all pensioners in the region.

The board meeting focused on advancing social security across Asia through enhanced collaboration, innovation, and sustainability. Veloso urged members to actively engage with ASEAN finance ministers and leaders to identify key priorities where the association can contribute meaningfully.

“This is not just an organization that meets every year,” Veloso said. “This is a strong organization of individuals managing long-term funds. By helping to make ASEAN strong, we ensure that every fund we manage brings real and lasting protection to those who deserve it.”

The ASSA serves as a forum for social security institutions in the region to exchange views, share best practices, and collaborate on the development of social security.