The Philippine Retirement Authority (PRA) celebrated its 41st anniversary on 4 July, marking another breakthrough in its mission to strengthen the Philippines' position as the number one retirement destination in the world.

Following the anniversary celebration, the PRA held its Media Thanksgiving on 7 July, gathering media partners and retirees who shared their journeys and explained why they chose the Philippines as their home.

The celebration comes after the country was recognized as the World's No. 1 Retirement Destination in 2026 in the Retirement Abroad Index 2026 by the Expatriate Group, surpassing more than 180 countries.

PRA CEO and General Manager Roberto “Bob” Zozobrado headlined the event, saying that 86,000 foreign retirees have settled in the country.

“We have retirees who have settled down in the Cordillera, in Tawi-Tawi, and in every region of the Philippines. There is at least one foreign retiree enjoying life as a resident of our country, which goes to show how beautiful the Philippines really is,” Zozobrado said.

The CEO also shared that the Philippines ranked ninth a few years ago, when the respondents were all Americans and Canadians, with Panama, Portugal, and Mexico as the top countries.

“What made it significant was that although Panama ranked first, Portugal second, and Mexico third, the ambassadors of Panama and Mexico both retired in the Philippines. They're here with us now, and that's why we won the award,” Zozobrado added.

The recognition builds on the country's being named the Best Retirement Destination in Asia at the 2025 TripZilla Excellence Awards, which has now reached the global stage, affirming the country's appeal among retirees seeking affordability, ease of living, quality healthcare, and a welcoming community.

The PRA also remains committed to enhancing the country's retirement program through the Special Resident Retiree's Visa (SRRV), improved services, and stronger partnerships that allow retirees to enjoy the sweetness of retirement.

Zozobrado also shared that retirees choose the Philippines because it is one of the cheapest and most affordable countries for foreigners.

“Another reason many retirees have chosen to retire in the Philippines is the cost of living. It takes about 14,000 U.S. dollars a year to retire in the Philippines, or around $1,160 a month, which is about ₱71,000 per month,” Zozobrado asserted.

Alongside this, the PRA's Onsite Service Caravan is an initiative designed to bring essential services closer to retirees and stakeholders, with successful events held at SM Telebastagan from 19 to 21 May and SM Pampanga from 23 to 25 June, providing access to visa inquiries, application evaluation, ID renewal, membership compliance assistance, and consultations.

The Philippines' rise from being Asia's best to becoming the world's best retirement destination was highlighted during the event, reflecting the PRA's continued efforts to create an environment where foreign nationals can live, connect, and thrive.

As the PRA enters another year of service, the organization remains committed to strengthening the Philippines' position as the world's top retirement hub, where retirement means more than a destination—it is a nurturing place to belong.