A majority of Filipinos expect to stay in the workforce beyond age 65, driven by both choice and financial necessity, according to Sun Life’s latest regional survey.
The study, Retirement Reimagined: Asia’s Retirement Divide, found that 72% of Filipino respondents plan to work past retirement age, while 71% said they need continued income to cover daily expenses and long-term security.
Purpose and fulfillment topped the reasons for working longer, cited by 53%, followed by mental stimulation at 41% and social connections at 36%.
“What we’re seeing is not a single retirement experience, but two very different realities,” said Benedict Sison, CEO and Country Head of Sun Life Philippines. “For those who are prepared, working longer can be a choice. For others, it reflects financial pressure.”
The survey also showed a rise in generative AI for financial planning, up from 3% to 11%, though 45% still consult banks and 44% turn to independent advisors.
Financial security remains a key predictor of optimism: 67% of non-retirees who feel positive about retirement cited stability, compared with 47% of those who do not.
Short planning horizons persist, with 25% making no pre-retirement plans and only 26% feeling very confident about their future.
Many Filipinos are also part of the “sandwich generation,” with 34% adjusting lifestyle expectations and 14% delaying retirement to support both elderly relatives and children.
Health was another factor, with 55% noting that good physical condition influences both retirement timing and quality of life.
The survey covered 3,006 online interviews conducted in November 2025 across Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, and Vietnam.
The Philippines’ aging population faces a widening retirement divide, with many expecting to work beyond age 65 either by choice or financial necessity, according to Sun Life’s latest regional survey.
The study, Retirement Reimagined: Asia’s Retirement Divide, found that while 72% of Filipino respondents anticipate staying in the workforce past retirement age, 71% admitted they require continued income to cover daily living expenses and long-term security.
The results also showed that 53% cited purpose and fulfillment, 41% sought mental stimulation and 36% valued social connections.
“What we’re seeing is not a single retirement experience, but two very different realities,” said Benedict Sison, CEO and Country Head of Sun Life Philippines. “For those who are prepared, working longer can be a choice that offers flexibility and freedom. For others, it reflects financial pressure.”
The study also tracked a shift in how Filipinos seek financial advice. Generative AI use in financial planning has risen from 3% to 11%, but reliance on professional advice remains strong, with 45% consulting banks and 44% turning to independent advisors.
Financial security was the strongest predictor of optimism: 67% of non‑retirees looking forward to retirement cited stability, while 47% of those not optimistic pointed to insecurity. Short planning horizons remain common, with 25% making no pre‑retirement plans and only 26% feeling very confident about their outlook.
The survey also highlighted pressures from the “sandwich generation,” with 34% of Filipinos downsizing lifestyle expectations and 14% postponing retirement due to supporting both elderly relatives and young dependents.
Health was another key driver, with 55% crediting better physical health. “Health is a form of wealth in retirement, influencing both when people retire and the quality of life they enjoy,” Sison said.
The findings were based on 3,006 online interviews conducted in November 2025 across Hong Kong SAR, Indonesia, Malaysia, the Philippines, Singapore, and Vietnam.
