25th September 2025 - 3 min read
A new survey by Manulife reveals that the focus of retirement planning is changing, with financial wellbeing playing an important role in overall health. Conducted as part of the 2025 Asia Care Survey (ACS) in Malaysia, it shows that people increasingly value independence and quality of life over simply extending lifespan.
The survey, which gathered responses from 1,000 Malaysians, found that seven in ten respondents believe their financial wellbeing influences not only their mental and physical health but also their lifespan. This points to a growing awareness of the connection between financial security and overall wellbeing during retirement.
Vibha Coburn, CEO of Manulife Malaysia, said the findings reflect a shift in how people define a good life. “It’s no longer just about how long we live, but how well we live,” she explained. This change highlights the need for retirement solutions that combine financial confidence with health.
Most respondents indicated that maintaining health, independence, and a sense of purpose is more important than simply extending life. The survey showed an average desired lifespan of 68 years, which is below Malaysia’s current average life expectancy of 76 years. This suggests that many people prefer to “add life to years” rather than “add years to life.”
Almost 80% of participants defined being healthy in later life as retaining independence and capability, rather than just being free of disease.
The survey also highlighted financial stress as a significant concern. Nearly half of those surveyed worry about running out of money before they die. Many respondents under 55 years of age expressed doubt about having sufficient savings for retirement. More than 60% expect to rely primarily on the public mandatory retirement savings scheme and public healthcare during their retirement years.
Coburn noted the link between financial security and independence. “If financial stress undermines that independence, health itself is compromised,” she said.
Although steady income is a priority for retirees, the survey showed that cash forms about half of Malaysians’ liquid assets across all age groups. Diversifying retirement portfolios appears less common, with only 29% ranking it as a priority.
Heavy reliance on the Employees Provident Fund (EPF) as the main source of retirement savings raises questions about whether individuals will have adequate income for longer retirements.
These findings underscore the importance of careful retirement planning and financial diversification. As Malaysians prepare for longer retirements, balancing income sources and managing financial wellbeing will be key to maintaining health, independence, and quality of life in later years.
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Iman writes about personal finance with curiosity. She is interested in the stories behind money, the hesitation around big decisions, and the small habits that shape financial futures. Off the clock, she is either dissecting a film or climbing her way up the leaderboard in her favourite games.
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