As life expectancy rises, Vietnamese people are preparing earlier for an independent retirement
As life expectancy increases, more and more Vietnamese people are paying attention to their health, finances, and quality of life earlier on—even before they stop working—with the goal of achieving a retirement that is independent, secure, and less reliant on their children.
The average life expectancy of Vietnamese people has increased by more than 9 years over the past three decades, rising from 65.5 s in 1993 to 74.7 s in 2025. This translates to a longer retirement period, creating a need for early preparation in terms of health and finances. The Ministry of Health’s proposal to guide people aged 40 and older in preparing for old age also indicates that retirement planning should be considered starting in middle age, rather than waiting until the final years of one’s career.
Notably, the traditional notion of “children supporting their parents when they are young, and parents relying on their children in old age” in Southeast Asian countries, including Vietnam, is gradually changing. Whereas in the past, parents typically relied on their children’s support in their old age, today many Vietnamese are moving toward a more independent and self-reliant retirement.
According to the Manulife Asia Care 2026 Survey, as many as 89% of Vietnamese respondents prioritize financial independence and autonomy in old age, viewing it as a “legacy” they wish to leave for their families. At the same time, 57% said they do not want to become a burden on their loved ones, while only 21% expect financial support from their children. These figures reveal a clear shift from a mindset of dependence toward proactively building a foundation for retirement.
According to financial experts, preparing early for retirement gives individuals more time to accumulate savings, adjust their plans, and build resources tailored to each stage of life. With a stable financial foundation, people can not only maintain their desired quality of life in old age but also make proactive, independent decisions regarding healthcare and lifestyle choices, thereby avoiding becoming a burden on their families.
From Simple Savings to Long-Term Financial Planning
For many years, traditional savings have been viewed as a vital financial resource for retirement. However, as the retirement period may extend, many people are carefully calculating their financial needs for old age.
Unlike simple savings, people today tend to seek long-term financial plans capable of simultaneously addressing multiple goals—from maintaining savings discipline and growing asset value to preparing for unforeseen risks and planning for retirement. This is also why financial solutions that combine protection and savings are increasingly becoming the preferred choice for many people.
Among these, Manulife’s Xanh Phú Quý unit-linked insurance product is attracting significant interest from a wide range of customers. With an expected premium payment term of 5 years, starting in the 11th year, customers can make periodic withdrawals from their account value to achieve financial goals at each stage of life.
In addition, the product is designed with a reasonable fee structure—reducing various related fees to increase the proportion of premiums allocated to unit-linked funds, thereby optimizing long-term asset value.
Not only does it meet the financial needs of existing customers, but the accumulated value of the policy can also be passed on to the next generation, supporting inheritance and the building of a multi-generational wealth foundation.
Retirement today is no longer seen as “stopping,” but rather as a time when each person maintains financial independence, continues to pursue personal goals, and enjoys life on their own terms. With life expectancy on the rise, preparing for this phase is becoming an important part of long-term financial planning, helping individuals proactively build a solid foundation for the future.
Learn more about the Manulife Asia Care 2026 survey here.
