Manulife champions longevity in Asia

Source: Manulife. From left: Harshal Shah, Chief Marketing & Experience Design Officer, Manulife Asia; Koh Hui-Jian, CEO, Manulife Investments; Steve Finch, President and CEO, Manulife Asia; Benoit Meslet, President and CEO, Manulife Singapore; and Mark Czajkowski, CMO, Manulife Singapore.

Manulife has enhanced ManulifeMOVE, Manulife’s flagship lifestyle programme, launching it at the inaugural Longevity Symposium in Asia. Originally introduced to promote physical activity, the platform now supports holistic wellbeing across six key pillars: healthcare, home and nursing care, fitness and wellness, lifestyle privileges, legacy planning services and community engagement.

“Insurance is no longer just about protecting people financially after something happens. It’s about helping them stay prepared for life’s changes. With ManulifeMOVE, we’re giving customers the power to take charge of their health and financial choices, so they can make confident decisions every day,” said Harshal Shah, Chief Marketing & Experience Design Officer, Manulife Asia.

Key programme enhancements include: 

• A tiered membership structure (Essential, Ascend, Prestige, Signature) offering access to differentiated benefits and partner privileges. 

• An expanded suite of services covering preventive health services, medical and assistive care, cancer care support, health and wellbeing coaching, fitness and wellness experiences. 

• Community engagement, such as a dedicated platform to foster a vibrant community with exclusive experiences, access to new offerings, and health content. 

ManulifeMOVE Partners*, including AMILI, ClassPass Singapore, Chi Longevity, Doctor Anywhere, Fullerton Health, Guardant Health AMEA, Hin Tat Augustine & Partners, Homage, Kin Teck Tong, Padang Trust, Parkway Cancer Centre, Parkway Shenton, Naluri, Q & M Dental Group, SportsMed, Ten Lifestyle Group and others, offer solutions that help people navigate everyday health and life management, supporting them through milestones from entering the workforce to becoming parents, managing chronic illness, or planning their legacy. 

“As a purpose-driven bank, we’re committed to using our business as a force for good – creating long-term value for our customers, community, and the nation. With Singapore transitioning into a super- aged society, our focus is on closing the gap between lifespans and ‘living spans’ by supporting financial, physical, mental, and social wellbeing at every stage of life," said Karen Ngui, Head, DBS Foundation and DBS Group Strategic Marketing and Communications.

"Ageing presents challenges, but also opportunities – the onus is on us to act early, and act together. At the DBS Foundation, we’re glad to join hands with likeminded partners like Manulife to build a future where everyone, regardless of age or circumstance, can live and age with dignity, purpose, and joy.”

“Cancer is one of the leading causes of death in Singapore, underscoring the urgent need for continuous innovation in how we detect, monitor, and treat it. At Guardant Health, we believe molecular data is essential for precision oncology to guide each patient’s journey with insights that matter," said Simranjit Singh, CEO, Guardant Health AMEA.

"Through our partnership with Manulife Singapore and the ManulifeMOVE programme, we are expanding access to cutting- edge liquid biopsy technology. With just a simple blood draw, we can unlock vital information to help personalise treatment decisions for patients with advanced solid tumours.”

“Good gut, good health. At AMILI, we believe gut health is foundational to long-term well-being. The microbiome in our gut plays a vital role in how we age, affecting immunity, metabolism, and chronic disease risk. By harnessing microbiome insights, we can deliver truly personalised preventive health strategies that go far beyond generic advice," said Jeremy Lim, CEO & Co- founder, AMILI.

"Our collaboration with Manulife Singapore is an important step in making science-backed, localised solutions for longevity more accessible across Asia. Through the ManulifeMOVE programme, we’re empowering individuals to take charge of their health in ways that are tailored and culturally relevant.”

The Longevity Symposium in Asia was convened to tackle one of the region’s most pressing challenges: how to live not just longer, but better.

“As an insurer, our role goes far beyond paying claims or managing risks. We have a responsibility to improve lives – not just by protecting our customers, but by empowering them to make better decisions for their health and financial future,” said Benoit Meslet, President and CEO, Manulife Singapore.

“Our latest Asia Care survey shows that only 6% of respondents wished for a longer lifespan, the vast majority prioritised staying physically, mentally and socially active, achieving financial independence and ageing gracefully. 

"Through initiatives like this symposium, we’re raising awareness across every dimension of longevity, from preventive health and financial planning to mental wellbeing and social connection, we’re helping our customers plan ahead and live with greater clarity, resilience and peace of mind.”

According to Manulife, one in four people in Asia will be over the age of 60 by 2050**. This demographic shift is driven by longer life expectancies and declining fertility rates. As countries in Asia adapt to these changes, people may no longer follow the traditional 'school, work, retirement' paradigm***. Instead, they transition more frequently between learning, working, caring, and recreation****. 

In addition, Manulife's Asia Care Survey showed that physical wellbeing is central to both financial and mental wellbeing for people across Asia, and that rising healthcare costs are a major concern, fuelling anxiety about insufficient savings.  

"Extending lifespan in our ecosystem is no longer our key focus. Instead, optimising healthspan is becoming our key imperative. Healthy ageing requires early intervention, data-driven behavioural change and integrated support across healthcare, technology and finance - across all stages of life," said Professor Dean Ho, Provost’s Chair Professor, Director, The N.1 Institute for Health, Director, The Institute for Digital Medicine, and Head, Department of Biomedical Engineering, National University of Singapore.

"The Manulife Singapore Longevity Symposium is an important catalyst for bringing scientific research into everyday insights and actions. By bridging science and education, we can address aging preparedness, helping people thrive across a longer life - physically, mentally and financially.”

“Healthy longevity isn’t just about adding years, it’s about adding good years that is not just extending your lifespan but your healthspan. That means having the energy, cognitive ability and independence to keep enjoying life as we age. To do that, we must take a proactive approach to health and start long before retirement age," said Professor Andrea B. Maier Oon Chiew Seng, Professor of Medicine at National University of Singapore, and Co-Founder of Chi- Longevity.

"In healthy longevity medicine, we look beyond short-term outcomes and focus on how individuals want to feel 10 or 20 years from now, and how we can help them get there. This future-oriented approach is why partnerships with organisations such as Manulife are essential. Through the ManulifeMOVE programme, we are enabling more individuals to proactively manage their health and better prepare for the realities of ageing."

Manulife and UpLink, the World Economic Forum’s early-stage innovation initiative, and the Forum’s Centre for Financial and Monetary Systems additionally announced 10 winners of the Innovating for Asia’s Demographic Future Challenge, launched earlier this year.

The challenge sought breakthrough solutions to support multigenerational financial resilience, equitable healthy ageing, and lifelong fulfilment across Asia’s rapidly ageing societies. The winning ventures — ranging from digital tools that enhance home safety and caregiving for older adults, to AI-powered platforms that modernise primary healthcare delivery, wearable rehabilitation solutions for post-surgery recovery, and lifelong learning and reintegration support for migrant workers — were selected for their potential to drive meaningful impact across Asia.

The winners will join UpLink's Innovation Ecosystem with access to exclusive networking, visibility, and partnership opportunities to help scale their solutions. Additionally, three of the winning innovators will share a prize pool of CAD$200,000.

“Longevity is reshaping how people across Asia think about their future. Our Asia Care Survey shows a growing focus on quality of life, independence, and financial security – underscoring that it’s not just about adding years, but enriching them,” said Steve Finch, President and CEO, Manulife Asia.

“We see a clear opportunity to help close the gap between aspiration and action. Through platforms like the Longevity Symposium and the UpLink challenge, we’re working with partners to deliver practical, preventive solutions that help people live well, for longer.” 

"Early-stage innovation is vital to turning the challenges that come with Asia's demographic shifts into meaningful opportunities for communities across the region," said John Dutton, Head of UpLink, World Economic Forum. 

"Through the Global Longevity Innovation Initiative, we are proud to partner with Manulife and the Forum's Centre for Financial and Monetary Systems to build an innovation ecosystem that promotes healthier, more financially resilient and fulfilled lives for all generations."

The event, held in Singapore, marks a milestone in Manulife’s commitment to advance Asia’s longevity movement. This builds on Manulife’s global commitment to longevity, following two successful longevity symposiums in in the US led by John Hancock.

*Access to services offered by ManulifeMOVE partners may vary by membership tier and customer eligibility.

**ADB: Adapting to Aging Asia and the Pacific

***Stanford Center on Longevity 

****  Andrew J. Scott and Lynda Gratton, The New Long Life: A Framework for Flourishing in a Changing World 

Manulife: Asians may need to retire later than they think

Asian investors are overly optimistic about their retirement years, assuming they can continue working beyond the official retirement age while maintaining expenditure at around two-thirds of their current salaries, according to the latest Manulife Investor Sentiment Index survey*. 

According to Manulife, investors are misjudging their ability to work after they retire, the actual duration of their retirement, as well as day-to-day expenditure during retirement. Life expectancy data** shows that the survey respondents are likely to live up to five years longer than they anticipate, leading to the likelihood that retirement savings will run dry during their lifetime. 

"Sadly, many are eyeing the wrong target and realise the mistake late in the day, so they end up delaying or trying to delay retirement," said Robert A. Cook, President and CEO of Manulife Financial in Asia. "We see in the survey those in their twenties expecting to retire at 58 and that creeps up to 65 by the time they're in their sixties. As they grow older, they realise they'll live longer. 

"A large number of our survey respondents - even those who have been actively investing for retirement - also say they wish they'd started planning earlier or saved more from the outset."

Saving for retirement stood out as a top priority for investors in all the markets covered in the survey, apart from in Malaysia, with nearly two-thirds believing they certainly or probably will be able to afford a desirable retirement. But, based on investors' own estimates, a gap exists between savings and retirement expenditure amounting to about six years.* 

Survey respondents said they expect retirement expenses to average 64% of their current income, but in reality they will likely be much higher. This has not yet hit home with Asia investors for whom retirement is seen as a time when they are free to do what they want (48%), enjoy what they have earned in earlier years (41%), and spend more time with family and friends (40%). 

Attitudes towards retirement are predominantly positive, with old age and poor health only a top-three consideration for investors in Indonesia (40%) and Hong Kong (34%).

Said Michael Dommermuth, President, International Asset Management at Manulife Asset Management: "I think we're all aware of it from personal experience with family or friends, but the reality is that medical prices have risen in Asia at about twice the rate of inflation over the past 10 years. In fact, World Health Organization data*** shows health spending per person in China has risen nearly six-fold in the last ten years. In Singapore, it's nearly four times higher and in Indonesia it's over five times higher. Healthcare is very expensive and you need more of it as you get older."

The Manulife survey also shows more than half (54%) of investors expect to work full- or part-time after their official retirement, for another six years, on average, until the age of 66. Singaporean investors expect to continue working the longest, with another nine years of 'post-retirement' work until age 70. Very few say they have no choice but to work, but in reality they may not be able to work whether they want to or not.
 
"Research reveals that elderly labour employment levels are generally well below the level the survey findings point to," explained Dommermuth. "In North Asia, elderly labour participation ranges from 8% in Hong Kong and Taiwan to 20% in Japan****. 

"This could be because although retirees want to work, they may be increasingly selective about the jobs they take, waiting to find a position that is line with their personal interests, offers a flexible schedule and is less physically demanding. Or their ability to work may be limited due to elderly-related health issues."
According to Manulife, the 65-plus age group has been shrinking as part of the workforce in Asia's developed economies. In Hong Kong, for example, it has dropped to about 40% of what it was 30 years ago.

Careful planning will help investors to deal with the future, says Manulife. "When compared to their North American counterparts, Asian investors tend to be better off in terms of wealth relative to current income," said Donna Cotter, Head of Asia Wealth Management. "But they don't deploy their wealth as well as the Americans -- an example being Asians' habit of hoarding excessive amounts of cash, which loses value, instead of investing it. With attention and planning, Asian investors can improve their retirement outlook in a relatively painless way."




*Manulife's Investor Sentiment Index (ISI) has been measuring investor sentiment in Canada for the past 14 years, and extended this to its John Hancock operation in the US in 2011.  

In Asia it is a quarterly, proprietary survey tracking investors' views across eight markets in the region on their attitudes towards key asset classes and related issues. The Manulife ISI is based on 500 online interviews in Hong Kong, mainland China, Taiwan, Japan, and Singapore, and face-to-face interviews in Malaysia, Indonesia and the Philippines.  

Respondents are middle class-to-affluent investors aged 25 years and above who are the primary decision maker of financial matters in the household and currently have investment products. The Manulife ISI Asset classes taken into Manulife ISI Asia calculations are stocks/equities, real estate (primary residence and other investment properties), mutual funds/unit trusts, fixed income investment and cash.

**Manulife Asset Management; UN Population Division; National Statistics, Taiwan.  
  
***World Health Organization National Health Account database, 2011

****International Labour Organization, Q3 2013 Estimates (except Japan, which is 2012); National Statistics, Taiwan