Retirement financial preparedness low among Pinoys – InLife study

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December 12, 2025 | 12:00am

MANILA, Philippines — Fewer than 30 percent of Filipinos feel confident about their financial preparedness for retirement, despite recognizing the importance of savings, insurance and investments, a study showed.

A study by Insular Life (InLife) showed that many challenges persist in ensuring financial security for the elderly, even as Filipino culture places strong emphasis on family and intergenerational support.

“Traditionally, Filipinos have relied on a strong sense of family obligation to care for aging parents and relatives. This cultural value, deeply rooted in Filipino society, has created a system of shared responsibility across generations,” it said.

The study also found that 52 percent of middle-class Filipinos prioritize securing a steady retirement income to avoid depending on their children.

InLife said this highlights a growing desire among Filipinos to break the generational cycle of dependence and achieve financial independence in old age.

“Despite all of this, the reality of retirement planning in the Philippines is far from ideal. This goes both ways, as many Filipinos prioritize saving for their children’s future over their financial security,” it said.

The report noted that many Filipinos heavily rely on employer-provided retirement benefits or government pension, such as those from the Social Security System, but it added that these sources may not provide enough income for a comfortable and financially secure retirement.

It added that Filipinos are facing mounting financial pressures as rising health care, housing and essential goods costs strain Filipinos’ finances, making it difficult for many to save adequately for a secure retirement.

“To cope, many Filipinos prioritize immediate needs over long-term health and financial security. This trade-off leads to a cycle of poor health outcomes as individuals forgo preventive care and essential medical treatments,” the report read.

Despite economic pressures, InLife said Filipinos maintain a positive view of retirement, aspiring to enjoy meaningful time with family and friends, launch or grow businesses and secure financial independence for financial freedom.

“A significant portion of respondents, 33 percent, aim to retire between the ages of 56 and 60. Gen Zs exhibit a stronger preference for early retirement, with 22 percent aiming to retire between the ages of 46 and 50 compared to only 14 percent of the general population,” it said.