MANILA (UPDATED) - Government Service Insurance System (GSIS) President and General Manager Jesus Clint Aranas has resigned, ABS-CBN confirmed on Tuesday.
Aranas resigned due to "personal reasons," said GSIS Vice President Marge Jorillo.
A copy of Aranas' resignation letter obtained by ABS-CBN News meanwhile said that he is leaving his position "without compromising his integrity."
"I resign secure in the knowledge that I have unwaveringly advanced the interest of GSIS and its members in discharging the functions of the said office always in obeisance to all the laws and never once compromising my integrity or that of the office I now relinquish."
Aranas' resignation came following reports on the Commission on Audit's order for the GSIS to refund P260.5 million in incentives given by the pension fund's management to its employees, calling them "illegal expenditures."
COA said the incentives were released without authority from President Rodrigo Duterte and the budget department.
The GSIS is also embroiled in a controversy with the Philippine Ports Authority over the ownership of a 78-hectare lot in Manila, a part of which is being used by global port operator ICTSI.
Based on the latest valuation supplied by the finance department, the property is worth P41.8 billion.