People in Asia strengthen retirement planning as financial awareness grows

Three-quarters said financial well-being affects their physical and mental health.

Whilst most people in Asia want to stay financially independent, healthy and active as they age, fewer than 10% prioritise living longer at any cost, according to the 2025 Financial Resilience and Longevity Report released by Manulife Wealth & Asset Management.

People across Asia are living longer and focusing more on quality of life in retirement, but many remain unsure about their financial preparedness. The report covers Hong Kong, Malaysia, Indonesia and the Philippines. 

Three-quarters said financial well-being affects their physical and mental health. Despite this awareness, confidence in retirement readiness remains mixed. 

Only 48% of respondents in Hong Kong believe they will have enough funds for retirement, compared with 58% in Malaysia, 77% in Indonesia and 52% in the Philippines. Mid-career workers aged 45 to 54 are the least confident.

Asian savers still rely heavily on cash, which makes up about half of non-property investments. 

Many avoid higher-return assets due to fear of losses or lack of investment knowledge. Property remains important, but its dominance is declining.

The report highlights a clear link between financial advice and confidence. In Indonesia, 89% of respondents with a financial planner expect to have enough retirement savings, compared with 63% without one. 

In Hong Kong, the gap is 62% versus 29%. Insurance agents and financial planners are the main sources of advice across the region.

Market insights show different levels of preparedness. Two-thirds of Hong Kong respondents plan to shift some savings into higher-return investments. 

Malaysians show growing interest in products that offer steady income. Indonesians are the most open to diversification, whilst Filipinos now prefer income-generating investments over property.

Manulife said rising life expectancy requires earlier planning, diversified portfolios and ongoing financial guidance to help people sustain their income through longer retirements.

The findings are based on Manulife’s Asia Care Survey of more than 9,000 respondents.