7 in 10 Filipinos delay retirement due to financial insecurity

Many are unsure they can retire, and half say they need to save more first.

Seventy-two per cent of Filipinos expect to keep working past the retirement age of 65, with many saying they need the extra income to support daily living and long-term financial security, according to a new survey by Sun Life Philippines.

The survey, titled Retirement Reimagined: Asia’s Retirement Divide, found that whilst 53% said they want to keep working for purpose and fulfilment, 71% said they need additional income to cover living expenses and secure their future.

The study grouped respondents into “Gold Star Planners,” who are financially ready and can choose when to retire, and “Stalled Starters,” who delay retirement due to financial constraints. 

Amongst the financially prepared group, 73% expect to work beyond retirement age by choice. 

In contrast, 20% of those who are less prepared are unsure if they will be able to retire, with half saying they need to save more before doing so.

Financial security was identified as the strongest factor shaping retirement outlook. Amongst non-retirees who look forward to retirement, 67% cited financial security as a key reason. 

On the other hand, 47% of those who are not looking forward to retirement pointed to financial insecurity, and 44% are concerned about their ability to continue supporting their families.

Despite these concerns, retirement planning remains limited. 

The survey showed that 25% of respondents make no pre-retirement plans, whilst 37% only begin planning within two years of retirement. 

Just 26% said they feel very confident about their retirement plans.

The research also found growing use of digital tools for financial decisions. Use of generative AI platforms such as ChatGPT and Google Gemini for retirement planning rose to 11%, from 3% in the previous survey. 

However, 45% of respondents still consult banks and 44% turn to independent financial advisers, indicating continued demand for professional advice.

The survey was based on 3,006 online interviews conducted in November 2025 across Hong Kong, Indonesia, Malaysia, the Philippines, Singapore and Vietnam.