71% think their relationships with family will improve in 2022, while 75% worry about retirement.
MANILA, 10 NOVEMBER 2017 – In the pursuit of deeper insights into relationships, British life insurer Pru Life UK has launched the second edition of the Pru Life UK Relationship Index (PRI). The study shows that this year, the Philippines is once again ranked second in terms of personal relationship satisfaction among the nine markets surveyed in Asia, with a PRI score of 79/100, on par with last year’s results. This means that relationships in the Philippines fulfil 79% of people’s needs and expectations, leaving only a 21% relationship gap.
Eight other countries were involved in the study – Cambodia, Vietnam, Indonesia, Thailand, Malaysia, Singapore, Hong Kong and China with Cambodia having the highest PRI score.
Posing the statement, “Relationships breathe life into our lives, adding color, tears and laughter, but how much do we truly understand them?,” the Company led an insightful discussion about relationships at Tomatito, Bonifacio Global City on November 10, together with personalities such as relationship expert Dr. Margaret Holmes, financial and relationship dynamics guru RJ Ledesma, and celebrity talk show host and LGBT rights supporter Boy Abunda.
Pru Life UK Chief Marketing Officer Allan Tumbaga said, “We are delighted to release the second edition of the PRI findings for the Philippines. Helping our clients understand their relationships better is very important for us. Research shows that better relationships directly translate to a greater sense of well-being and significant improvement in health and longevity. We are happy that the latest PRI once again shows Philippines to be in the upper tier of relationship satisfaction.”
What do Filipinos want from their partners?
In 2016, Filipinos expressed their love for each other more than anyone else in Asia. This holds true in 2017 — Filipinos are the most expressive in the region in communicating with their partners. Out of the nine markets surveyed, they are the most likely to tell their partners they love them (86%) and to laugh together on a frequent basis (90%).
Couples who are more transparent with their partners tend to fare better on the PRI index compared to couples who withhold information from each other. People in relationships who tell their partner everything have a relationship score of 80/100, while those who claim they do not tell their partner everything score lower, at 68/100.
However, despite the high level of relationship fulfilment, Filipinos still wouldn’t say their partners are perfect. If they could improve one thing about their partners, 38% say they want them to be more responsible partner, 34% say they would like them to be more attentive, while 33% would prefer them to be more communicative.
Does planning together strengthen relationships?
The 2017 PRI findings show that most Filipino couples expect their personal finances to improve (89%) by 2022 when they plan their finances together, comparatively higher than for couples who plan separately (64% and 74% respectively).
Even if they do not make financial plans together, the 2017 PRI shows that couples who are more transparent with each other about their finances do better on the relationship index. Filipino couples who make financial plans together have a partner relationship score of 81/100, 18 points higher than those who plan separately (63/100). Sixty-three percent of couples also agree that working with a financial agent will improve their relationship.
When planning their financial goals, 59% of the people in the Philippines would like to start a new business. Other financial goals include having enough money to travel with the family (49%), supporting the children’s education (45%) and saving enough for future retirement (42%).
On these findings, Tumbaga said, “The facts speak for themselves; couples who plan their finances together show much higher relationship scores with their partners than those who plan separately.”
Are Filipinos concerned about financial security?
Filipinos worry about whether they will have enough money for retirement and medical expenses (75%), the highest proportion across all markets surveyed. The majority of people expect to count on their own personal savings (87%) or continue working to support themselves (36%) in their old age. Only 32% expect their children to provide them with financial support.
Worrying about financial security also extends to concern for their loved ones. Almost half of the people in the Philippines (47%) have concerns about their family’s financial situation should anything ever happen to them.
What will relationships and family life look like in 2050?
Most people in the Philippines believe their relationships will show big improvements in the near future. 72% say their love life will get better within five years’ – the highest proportion among the nine countries surveyed.
When asked to make predictions on the state of relationships by 2050, the PRI gathered that:
80% of Filipinos believe that separation will be socially acceptable;
77% predict that over half of the couples living together will not be married;
74% expect that over half of the children will be born to unmarried parents;
70% believe that children will have a better future than they do now; and
65% believe that same sex marriage will be legal in the Philippines
“With the data presented in the 2017 PRI, Pru Life UK hopes to encourage more Filipinos to start real conversations that lead to relationships and a better understanding of financial planning,” said Tumbaga. “We look forward to a future where more rewarding and fulfilling relationships are nurtured, and partners and families recognize Pru Life UK as the institution that will always be there to help them protect their loved ones and realise their life goals.”
For more details, visit: Pru Life UK Relationship Index Microsite
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