Filipinos are among Asia’s most optimistic about aging but remain structurally unprepared for longer lifespans, a disconnect that underscores how lifestyle aspirations are changing faster than the country’s savings habits.

A new Manulife study shows retirement planning in the Philippines is being shaped less by longevity fears and more by the desire for dignity, independence, and financial breathing room.

Only 52% of Filipinos say they feel financially ready for retirement, according to Manulife’s 2025 Financial Resilience and Longevity Report, placing the Philippines among the weakest in Asia despite a population that consistently ranks high in valuing family, community, and purpose in later life.

What the headline number obscures—and what the report suggests may soon matter more—is how Filipinos are redefining retirement not as an extension of old age but as a phase requiring autonomy, stable income, and relief from being a burden on family. That shift is critical in a country where cultural expectations of intergenerational support remain strong, often delaying individual planning until mid-career, the stage where confidence drops the most.

The multinational financial services firm found that Filipinos overwhelmingly prize quality of life over sheer longevity, with only 13% saying they want to live as long as possible. Yet the tools they use to secure that better life remain stubbornly traditional: 66% rely on cash and fixed deposits, a preference that exposes them to inflation and raises the risk of outliving their savings.

Calvin Chiu, Manulife’s head of Asia retirement, warned that “holding too much cash and relying solely on property can leave people vulnerable to inflation and income shortfalls,” adding that “building financial resilience means diversifying across income-generating and inflation-protected assets—and doing so early.”

A less obvious but equally important finding is the Philippines’ quiet shift away from property as the central pillar of financial security. While real estate has long served as the Filipino family’s retirement proxy, 55% now believe property ownership could reduce future savings, limiting flexibility at a time when longer lifespans demand more liquid, income-producing assets. This mirrors a regional trend: only three in 10 respondents across Asia still view property as the untouchable retirement cornerstone it once was.

Investment anxiety remains a major barrier. Fear of capital loss and limited knowledge keep many Filipinos from higher-yielding assets, echoing a regional pattern where cash still makes up roughly half of non-property portfolios. But the report offers a rare bright spot for the Philippines: a growing openness to income-generating investments, with 73% of respondents preferring yields over property, signalling a potential inflection point in how Filipino families build long-term financial resilience.

Across the region, Manulife said people are redefining what it means to age well. “Longevity is reshaping how people across Asia think about retirement. We’re seeing people rethink what retirement means, not simply living longer, but living better,” Chiu said.

The survey of more than 9,000 respondents across nine markets shows that those who seek professional advice consistently report higher confidence—an insight especially relevant to Filipinos navigating rising life expectancy, modest savings levels, and deep-rooted cultural expectations of family support.

For the Philippines, the report’s most telling message may be that retirement planning is no longer just about accumulating funds—it’s about adapting to a new era where Filipinos expect to stay active, autonomous, and financially independent far longer than previous generations.