72% of Filipinos expect to work after retirement—survey

A new survey showed that most Pinoys expect to keep working even beyond retirement age.

According to Sun Life's Retirement Reimagined: Asia’s Retirement Divide survey, 72% of Filipinos expect to work after reaching the age of 65.

Results showed mixed motivations from respondents, with 71% of them citing income to support everyday living—followed by purpose and fulfillment at 53%, mental stimulation at 41%, and valuing social connections at 36%.

The study also highlighted the financially prepared “Gold Star Planners” as well as the “Stalled Starters,” or those who delay retirement due to money problems. 

73% of Gold Star Planners expect to work beyond retirement by choice and are motivated by staying active (38%) and social engagement (25%), while 20% of Stalled Starters are still not sure about whether they will continue working. Half of the respondents for the latter also cited their need to save more as their main reason for delaying retirement.

The poll likewise showed financial security as the main determinant of optimism when it comes to retiring.

The survey was conducted in November last year, gathering 3,006 respondents across Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, and Vietnam.