Retirement planning is crucial to achieving financial independence. In the Philippines, our retirement plans provide the structure and security needed for a comfortable future. Explore how our plans can help you build a strong foundation for your retirement.
Your life later depends on the plans you build today.
How do you picture your retirement years? For many, retirement may seem like a far-off future. But it’s nearer than you think and it’s crucial that you start planning for it today. Do you want to explore your passions, fulfill more dreams and continue living independently even when you retire? These are all possible —if you are able to start saving now and grow your wealth.
A retirement plan (also known as retirement insurance) is a long-term savings tool that you contribute to during your working years. The money you save in your retirement insurance plan is invested in financial products with the aim of increasing your retirement fund over time.
Plan name |
Type |
Top feature |
Ideal for |
Manulife Freedom |
Retirement plan and life insurance plan |
Guaranteed cash payouts and life insurance coverage |
Individuals who want stable benefits and life protection through retirement |
GoalReady |
Retirement savings plan with life protection |
Goal‑aligned long-term saving and life insurance benefits |
Savers who want retirement fund and can take risks in return for growth all while having a safety net for death and disability. |
It is vital for anyone who wants to secure their financial future and maintain a comfortable lifestyle in their golden years. Here are the key benefits of starting to save for retirement today:
Build up your retirement savings gradually
A retirement plan allows you to accumulate savings gradually throughout your working years. Regular contributions to your plan can help you build a substantial retirement fund.
Grow your retirement fund with smart investment options
Retirement plans typically offer various investment options, such as stocks or mutual funds, that can help grow your retirement fund. These investment options fits the level of risk you can take in return potential higher returns, ensuring your money works harder for you.
Enjoy a regular income after retirement
One of the key benefits of having a retirement plan is getting a regular income during your retirement. This income acts as a safety net, covering your daily expenses, medical bills, and any unexpected costs that may arise.
Take advantage of tax benefits
Many retirement plans come with tax benefits, such as tax-deferred growth or tax-deductible contributions. These tax advantages can help you maximize your savings and lower your tax liability, allowing you to keep more of your hard-earned money.
Receive life insurance coverage
Some retirement insurance plans, like those offered by Manulife, include life insurance coverage as part of their package. This means that in the unfortunate event of your death, your loved ones will receive a death benefit, ensuring their financial security.
The Manulife retirement plan is ideal for individuals who want a structured approach to securing their financial future. Here’s who should consider this plan:
Individuals seeking guaranteed income: If you want a reliable income during retirement, the Manulife retirement plan offers options that guarantee payouts.
People looking for flexible retirement options: With Manulife’s flexible contribution plans, you can adjust your savings based on your current financial situation.
Those who value insurance and protection: For added security, the plan combines insurance with savings, providing coverage for unforeseen circumstances.
Investors wanting growth potential: If you want your retirement savings to grow, the Manulife plan offers investment‑linked features that allow your funds to grow over time.
Here are the 5 essential steps to help you make an informed decision:
1. Determine your retirement goals.
Assess your financial goals for retirement. Do you need a guaranteed income or a flexible plan that grows with your investments? Understanding your priorities will help you choose the right retirement insurance or life insurance retirement plan.
2. Explore available plan types.
Research the different retirement plans offered in the Philippines. Look for plans like Manulife GoalReady or Manulife Freedom plan that combine insurance for retirement with guaranteed savings or higher potential earnings through the investment fund options. Make sure the plan aligns with your needs for protection and growth.
3. Evaluate flexibility and contribution terms.
Decide how much flexibility you need in your retirement savings. Some plans allow for adjustable contributions based on your financial situation. Manulife's GoalReady offers such flexibility, allowing you to make additional premiums according to your goals and budget.
4. Consider the insurance benefits.
If protection is equally important to you, opt for a retirement plan that includes insurance for retirement that can cover for your long-term care, post-retirement care and hospitalization. Plans like Manulife GoalReady can provide a balance between retirement savings and life insurance protection, ensuring both financial security and coverage for your loved ones.
5. Compare the returns and payout options.
Review the expected returns and payout structures. Some plans offer fixed returns, while others are linked to investment performance. Make sure the retirement plan you choose provides enough income during retirement while still allowing for the potential growth of your savings.
How do you picture your retirement years? For many, retirement may seem like a far-off future. But it’s nearer than you think, and it’s crucial that you start planning for it today. Do you want to explore your passions, fulfill more dreams, and continue living independently even when you retire? These are all possible - if you are able to start saving now and grow your wealth.
Having a retirement plan and setting multiple sources of income to support your way of life can help you live a comfortable and financially independent life down the road.
There’s no better time than now to start planning and preparing for the future you want. With Manulife retirement plans, you can achieve financial independence and pursue your passions later in life just as you would today.
Retirement plans in the Philippines are designed to help you save for retirement through regular contributions, which may grow through investments. Some plans, like Manulife's retirement insurance, combine savings with life coverage. At retirement, you can receive a lump sum amount or monthly payouts, providing income security for your future.
To retire comfortably, aim to save 70%-80% of your pre-retirement income annually. The exact amount depends on your lifestyle and needs. Retirement plans, like those from Manulife, offer investment growth and guaranteed income, helping you reach your retirement savings goal.
Yes, contributions to retirement savings plans such as the government-mandated Social Security System (SSS) or private retirement accounts may qualify for tax deductions.
The SSS pension is a government-provided benefit based on your contributions to the Social Security System. It covers basic retirement needs. In contrast, retirement plans like Manulife's offer more flexibility, higher returns, and additional insurance for retirement, ensuring greater financial security.
There are several popular retirement plans in the market. Here are the two key options you may consider:
Retirement savings plans: Retirement savings plans are an excellent way to grow your retirement fund. These plans allow you to contribute a portion of your income regularly, which is then invested to grow over time. You can enjoy the benefits of compounding interest, tax benefits, and the flexibility to choose your investment options.
Pension plans: A pension plan is an employer-sponsored retirement plan that provides a fixed income during your retirement years. The amount you receive typically depends on your employee policy, based on your salary and the number of years you have contributed to the plan, and you have less flexibility to control the amount of contribution.
Retirement planning is a crucial step toward financial security in your golden years. A key factor in securing a comfortable retirement is careful planning and choosing the right retirement plan that suits your needs. Here are some tips to help you invest wisely for your retirement:
Assess your goals and timeline. Evaluatinge your retirement goals and the time you have until retirement. It will guide you in selecting the most appropriate retirement plan.
Understand different retirement plans. Get familiar with the various retirement plans available in the market. Each plan has its own benefits and limitations, so it's important to understand how they work and which one aligns with your financial objectives.
Evaluate your risk tolerance. Retirement plans can vary in terms of investment risk and return. It's crucial to assess your risk tolerance and choose an investment strategy accordingly.
Seek professional advice. Consulting with a financial advisor can provide valuable insights into retirement planning.
Regularly reviewing and adjusting your retirement plan as your circumstances change is essential. By selecting the right retirement plan that fits your needs, you can pave the way for a financially secure and enjoyable retirement.
People wonder when then best time to start a retirement plan is. The answer is simple - the earlier, the better. Starting early allows you to take full advantage of compounding, giving your investments time to grow and ultimately resulting in a larger retirement fund. A retirement plan is a crucial tool for ensuring your financial future and enjoying a worry-free retirement.
At Manulife, we offer a range of retirement solutions designed to meet your needs, providing you with peace of mind and a comfortable retirement lifestyle. Take the first step toward a comfortable retirement by planning your future today!
The cost of retirement insurance depends on factors such as your age, retirement goals, coverage amount, and the type of plan you choose. Since each plan is tailored to individual needs and timelines, costs vary from person to person. For an accurate estimate, speaking with a Manulife Financial Advisor can help you explore options suited to your goals.
There are many types of retirement plans to choose from in the Philippines, each designed to suit different financial needs and goals. Here are the main types:
1. Defined contribution plans
These plans allow you to contribute a set amount, with the value depending on your contributions and investment performance. Manulife’s Freedom plan is a good example of this, offering flexibility in contributions.
2. Defined benefit plans
Provides a fixed payout based on your salary and years of service. This plan offers a predictable income in retirement.
3. Retirement insurance plans
Combines life insurance and retirement savings, ensuring both protection and income. Manulife's FutureBoost retirement plan is a prominent example, providing life coverage while accumulating savings for retirement.
4. Investment‑linked retirement plans
Offers both insurance and investment growth, allowing you to benefit from market performance while being covered.
5. Voluntary savings plans
Flexible contribution plans that allow you to save at your own pace, with no mandatory contribution requirements.
Choosing the right plan depends on your financial objectives and risk tolerance.
In most cases, you can withdraw from your retirement plan before you reach retirement age, but doing so may come with penalties, taxes, or restrictions depending on the plan's terms. It’s advisable to check with your plan provider about any early withdrawal conditions and their impact on your retirement goals.
Watch this video from journalist
Salve Duplito to know why.
To understand, watch this video from Coach Lyqa featuring our Chief Health & Product Officer, Grace Mallabo.
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