Why 70% of Vietnamese people want to continue working after retirement age

Retirement in Vietnam is increasingly viewed not as the end of a career, but as a flexible phase shaped by health, family responsibilities, and long-term financial readiness, according to Vietnam’s results in Sun Life Asia’s report “Redefining retirement age: The polarization of retirement across Asia.”

More Vietnamese plan to keep working after retirement age

In Vietnam, as many as 70% of survey participants said they intend to or have already chosen to continue working after reaching retirement age. Rather than fully leaving the labor market, many people are maintaining work in later years.

Among those planning to continue working after retirement, 52% said they want to maintain a sense of purpose in life, 48% want to keep social connections, and 39% see work as a way to stay mentally sharp and intellectually engaged.

Financial factors also remain central. Up to 60% of those who continue or plan to continue working after retirement said they need additional income to cover daily living costs and support long-term financial security.

Health and family responsibilities reshape retirement timing

Health increasingly influences when and how retirement is taken. Among those whose views on retirement have changed in recent years, 45% attributed the change to better physical health than expected, while 44% cited improved mental health.

At the same time, poor health is also a leading reason some people retire earlier than planned, suggesting that unexpected health events can disrupt even well-prepared plans.

Family responsibilities further complicate retirement decisions. Nearly 9 in 10 respondents (89%) expect to continue supporting children or relatives after retirement. This expectation leads many to adjust their post-retirement lifestyle (37%) or postpone retirement (23%).

Desire for flexibility grows, but planning remains limited

While the report highlights a growing preference for an active and flexible retirement, practical preparation appears insufficient. 14% of respondents said they do not plan for retirement at all, while 26% said they begin planning only within two years before leaving full-time work.

Financial confidence is correspondingly low: only 24% said they feel very secure about their retirement plans. The planning gap is especially concerning given rising inflation and living costs. Among those already retired, 21% reported higher monthly expenses than anticipated, and only 9% said their retirement lives meet or exceed their initial expectations.

Sun Life Vietnam: early planning and protection are key

Commenting on the findings, Lay Hoon Tan, CEO of Sun Life Vietnam, said: “Expectations for an active and flexible retirement are growing, but the reality is that many people still lack adequate preparation. Early financial planning – including protection and long-term savings solutions – plays a crucial role in helping individuals proactively address risk, protect families, and build a solid financial foundation throughout the retirement journey. Life insurance is not only protection for the present but also provides confidence and a choice throughout the retirement journey.”

Retirement age increasingly seen as a personal choice

The study also points to a broader social shift in Vietnam. Three-quarters of participants believe retirement should be a personal choice rather than constrained by a fixed age, reinforcing the idea that later life should be shaped by readiness rather than rigid timelines.