The Office of the Vice President (OVP) said on Monday that it was not in a rush to transfer to the Coconut Palace following news that President Noynoy Aquino is set to name the replacement of former Government Service Insurance System (GSIS) president and general manager Winston Garcia.

GSIS owns the Coconut Palace along the Cultural Center of the Philippines (CCP) complex in Pasay City where the OVP is mulling to transfer in a bid to have a permanent office and official residence of the Vice President.

The OVP is renting a portion of the seventh floor of the Philippine National Bank (PNB) Financial Center in Pasay City.

According to OVP media officer Joey Salgado, the OVP is not in a rush to sit down with the GSIS Board of Trustees to start talks on its possible transfer to the Coconut Palace, adding that it is not a “priority” at the moment.

Reports said the President has already decided on the replacement of Garcia, whose term was co-terminus with former President Arroyo.

Malacañang, however, withheld the name of the new GSIS president, saying that it will be announced as soon as Executive Secretary Paquito Ochoa signs the appointment papers.

The appointment of the new GSIS president will enable the OVP to start formal talks for its possible transfer to the Coconut Palace.

Once the new GSIS president has been appointed and once a settlement is made between the GSIS and the OVP, the subject will be brought to the GSIS Board of Trustees for approval.

OVP chief of staff Benjamin Martinez Jr. had said that they will retain the Coconut Palace as their only option for the possible transfer to a permanent office and official residence of the Vice President.

“We will explore first whatever was offered to us,” he said.

Before thinking about transferring to the Coconut Palace,Vice President Jejomar Binay initially planned to hold office at the old City Hall of Makati City, where he served for six terms as mayor.

Vice Presidential spokesperson JV Bautista had earlier said that the transfer of the OVP to a permanent office and official residence will benefit future vice presidents.

The OVP is paying P800,000 per month in rent for its office at the PNB Financial Center in Pasay City. The amount still does not include other overhead expenses.