When it comes to retirement, most Filipinos think it’s all about saving money. But according to the latest InLife Retirement Index, financial stability is just one part of the story and the Philippines still has a long way to go.
The country’s retirement readiness score is only 47 out of 100, showing that while many Filipinos want a comfortable retirement, few are truly prepared for it. The study, developed by Insular Life (InLife), the country’s largest Filipino life insurer, takes a holistic approach to retirement, showing that it’s more than just about income.
Retirement Is More Than Savings, It’s a Way of Life
The InLife Retirement Index measures readiness using six key factors:
- Life stage
- Personal finances
- Health
- Pension participation
- Retirement sentiment
- Social support
As InLife Chief Marketing Officer Gae L. Martinez explained, “Retirement isn’t just a financial milestone, it’s emotional, social, and cultural. If we only focus on money, we miss out on what makes retirement truly secure and meaningful.”
Who’s Most Ready for Retirement? Gen X Leads the Pack
Among generations, Gen X (ages 40–54) scored the highest at 54, showing that maturity and stable income help boost retirement confidence. Meanwhile, Gen Z scored the lowest at 36, though many young respondents said they already have plans for the future, they just haven’t turned them into concrete action yet.
The data also showed that InLife policyholders scored higher (62) than non-policyholders (42), proving that insurance and investments greatly improve long-term readiness. Married individuals and small families also fared better, while single Filipinos and informal workers lagged due to financial strain and lack of pension participation.
Health and Social Support Are Key Retirement Pillars
The study revealed that those who plan well for retirement also prepare for health emergencies, a must as chronic illnesses rise with age. Having separate funds for healthcare provides stronger security later in life.
Filipinos with strong social networks such as family or community support also scored higher on the Index. This highlights how emotional and social well-being are just as important as financial preparedness.
Interestingly, the report found a gender gap: women averaged 45, while men scored 49, mainly because men tend to have more formal employment and investment opportunities.
InLife’s Call: Start the Conversation About Retirement
Martinez emphasized that the InLife Retirement Index is not just a study, it’s a call to action.
“Retirement readiness requires conversation. Families, communities, and institutions must normalize talking about it,” she said. “We want Filipinos to be aware, confident, and prepared so they can retire without worries.”
To help Filipinos take concrete steps, InLife offers Retire Assure, the first true retirement insurance product in the Philippines, providing guaranteed monthly income from age 60 or 65 until age 100. Its upgraded version, Retire Assure 2, caters to professionals nearing retirement who want guaranteed stability instead of market uncertainty.
A Lifetime for Good: InLife’s Commitment to Filipinos
At 115 years strong, InLife continues to empower Filipinos with financial security through life insurance, investments, and education on retirement readiness.
Filipinos can try the InLife Retirement Index Calculator at www.inlife.com.ph/retire-assure/retirement-readiness-index to assess their preparedness.
To learn more about InLife Retire Assure, visit www.inlife.com.ph/retire-assure or read the white paper Retire Without Worries: Your Roadmap to Living Life to the Fullest at https://bit.ly/RetireWithoutWorries.