For young Pinoys, financial planning no longer about wealth building

The Philippine Star

November 3, 2026 | 12:00am

MANILA, Philippines — PhilPlans, the pre-need arm of the Philippines First Insurance Group, has identified a significant shift on how the younger generation views long-term financial planning as no longer just about wealth building, but also about emotional resilience and ability to manage life’s challenges.

Based on its PhilLife Meter: Feeling the Insurance Pulse of Pinoy Gen Y and Z study, PhilPlans said while traditional retirement is often seen as a far-off concept, 65 percent of respondents specifically seek peace of mind from their protection plans, while 64 percent demand financial stability as a non-negotiable benefit.

Perhaps most telling is the shift toward self-reliance: 78 percent of young Filipinos now identify themselves as their top protection priority for the next three years.

“We are seeing a generation that is more self-aware and financially intentional,” PhilPlans president and CEO Monico Jacob said. “They are not only seeking protection from risk but also looking for structures that help them stay financially steady through life’s transitions – from career changes and family responsibilities to retirement.”

Responding to this shift, PhilPlans has strengthened its suite of pension offerings designed to align with the evolving priorities of younger Filipinos. Among these is PhilPlans Futura, a plan that provides yearly cash benefit from the 10th to the 24th year, followed by a return of payment in the 25th year, allowing planholders to enjoy both consistent income and a substantial retirement fund.

There’s also Ingat Yaman Kaban which offers a more foundational approach to saving, delivering steady yearly cash benefits and a guaranteed lump sum by the 15th year – making it suitable for those building financial discipline while securing future liquidity.

These plan offerings are designed to be simple yet flexible, making them suitable for first-time planners, freelancers, young entrepreneurs and corporate employees alike. PhilPlans made sure they have created straightforward, high-protection plans that eliminate the complexity often associated with retirement planning to help young professionals build disciplined savings habits.

“Our goal is to remove the intimidation factor from financial planning. By offering simple plans with robust protection, we enable Gen Y and Z to secure that peace of mind today, so they can focus on living their lives fully,” Jacob added. “We help them develop consistent saving and long-term financial discipline that allows them to take control of their retirement journey early.”