HomeInternational Journal on Social Innovation & Researchvol. 9 no. 1 (2018)

Understanding the Employed Filipino Mindset on Retirement Preparation

Ma. Dolores C Causon



Employed Filipinos anticipate their retirement and know that they need to prepare for it because Filipinos today may live to an average age of 70.1 years. Te framework for this study proposes that if retirement preparedness highlights the domains from Ibrahim and Wahat’s Opportunistic Model of Retirement Preparation, it may catalyze the identifcation of factors for the establishment of naturally occurring retirement communities in the Philippine context. Tis study focused on retirement preparation of 102 employed Filipinos from SPUQC and PLDT Co. GMM-East, born between the years 1965 to 1980 or those who considered themselves belonging to Generation X, from both genders, and varying civil and economic statuses. To describe the data, measure of frequency (percentages) was computed to reveal most common responses of the respondents. Survey questionnaire and focus group discussion results have provided a glimpse of their mindset on retirement preparation and identifed the pull factors in the establishment of NORCs in the Philippine context. Tis study suggested that Filipino GenX retirees are family-centered lifelong providers who would keep themselves busy to stay socially connected and earning retirement income, while spending their retirement in a community where they are living in their own home but near their family or roots, with a health facility nearby, and a religious center where they can volunteer. Tey would be catalysts in the establishment of townships meant for aging Filipinos opting for independent living arrangements which will be called seniors citizens in arranged living townships (SALT).