retirement

2025 Manulife Financial Resilience and Longevity Report reveals quality of life and financial independence are top priorities for Asia’s aging population

MANILA, Philippines – As people across Asia live longer than ever before, a growing number are prioritizing purpose and quality in a longer life, according to the 2025 Financial Resilience and Longevity Report for Asia (the “Report”) unveiled by Manulife Wealth & Asset Management (Manulife WAM). The Report reveals that as longevity rises across the region, people aspire to live independently and healthily in retirement, but many still face challenges in achieving lasting financial resilience.

The Report, which focuses on Hong Kong, Malaysia, Indonesia, and the Philippines, builds on Manulife’s established commitment to longevity preparedness and is exemplified by the recent launch of Manulife’s Longevity Institute, a global platform that seeks to drive action to help people live longer, healthier, and more financially secure lives.

Calvin Chiu, Head of Asia Retirement, Manulife and Chief Executive Officer, Manulife Investment Management Hong Kong said, “Longevity is reshaping how people across Asia think about retirement. We’re seeing people rethink what retirement means—not simply living longer, but living better. Financial independence, health, and well-being now define success in this new era of longevity.”

Living Better, Not Just Longer

The report shows that most Asians prioritize quality of life over longevity itself. Fewer than 1 in 10 respondents said they wanted to live longer regardless of circumstances, while half said they value living a meaningful life, and over one-third expressed a desire not to be a burden on others. When envisioning later life, people overwhelmingly said they hope to be financially independent, stay physically and mentally active, and age gracefully while maintaining their desired standard of living.

These findings highlight a strong desire for autonomy and wellbeing, with many viewing health and financial stability as deeply connected. Across all four markets, three-quarters of respondents believe that their financial wellbeing affects their physical and mental health, while 85% said financial wellbeing influences their mental state during retirement.

“People across Asia want to enjoy their extended lifespans with dignity, purpose, and freedom,” added Chiu. “That requires a shift in mindset—from saving for retirement to planning for longevity.”

Asia’s Financial Readiness Gap

Despite this awareness, less than half of respondents across Asia believe they will have enough funds to retire comfortably. Confidence varies widely across markets, from just 48% in Hong Kong to 77% in Indonesia. Mid-career individuals aged between 45 and 54 are the least optimistic about their preparedness, underscoring a need for more proactive financial planning.

Cash continues to dominate the average Asian portfolio, representing roughly half of non-property investments, reflecting ongoing caution toward risk. Many respondents cited fear of capital loss and lack of investment knowledge as reasons for avoiding higher-yielding assets. Property, once the cornerstone of Asian retirement planning, is losing its dominance. While most still regard it as important, only 3 in 10 now see it as less of a priority than before.

“Holding too much cash and relying solely on property can leave people vulnerable to inflation and income shortfalls,” said Chiu. “Building financial resilience means diversifying across income-generating and inflation-protected assets—and doing so early.”

Advice Matters: Professional Guidance Drives Confidence

The Report found a clear link between financial advice and confidence. Across all four markets, people who work with a financial planner are significantly more likely to feel ready for the future. In Indonesia, for example, 89% of those with a financial planner said they expect to have sufficient funds for retirement, compared to 63% of those without one. In Hong Kong, that gap widens further, with 62% of people who work with a planner feel confident versus only 29% without. Insurance agents and financial planners from insurance companies remain the most common sources of advice across Asia, followed by bank relationship managers and independent advisors.

“Professional advice can make all the difference,” Chiu added. “With the right guidance, people can move from simply saving to actively investing, giving them greater control over their future income and lifestyle.”

Generational and Market Insights Across Asia

Regional patterns reveal both progress and disparity. In Hong Kong, less than half (48%) of respondents believe they will have sufficient funds for retirement. However, many are taking action—around two-thirds (65%) plan to shift part of their cash into higher-return investments. In Malaysia, confidence is moderate, with 58% expecting to be financially ready. Many Malaysians expressed strong interest in pension solutions that provide steady retirement income and protection against inflation.

In contrast, Indonesia emerged as the most financially confident market, with 77% of respondents believing they will have enough savings for the future. Indonesians also show the willingness to diversify, with 69% saying they are now more open to investing for income rather than holding property. Meanwhile, the Philippines reflects both optimism and transition: while just over half (52%) of respondents feel financially prepared for the future, 73% now prefer income-generating investments over property (71%), signaling a generational shift in retirement thinking.

These market insights collectively underscore a growing recognition that living longer requires new investment habits, diversified portfolios, and a stronger focus on financial literacy.

The Report also highlights a common insight across generations. Younger, mid-life and older groups consistently ranked a work-free new chapter as their top priority when it comes to retirement outlook. This desire is strongest among the younger group (25-34) at 55% and the older group (60+) at 58%, while mid-life groups (45–59) show a more balance view with many leaning toward balancing work and life with continued employment at the same time.

A Call to Action: Building Longevity Confidence

As life expectancy continues to rise, the Report urges individuals, employers, and financial planners to rethink traditional retirement strategies. Manulife WAM advocates a more holistic approach to longevity—one that combines early financial planning, diversified investments, and continuous professional guidance to help people thrive through longer retirements. “Longevity should be a source of optimism, not anxiety,” Chiu concluded. “With the right financial habits and guidance, people can turn longer lives into better lives—and that’s the vision driving our work at Manulife.”