When the Philippine Retirement Authority was established in 1985, it aimed to make the global market recognize the Philippines as the retirement haven of choice. But this plan was designed specifically to target foreign investors, overseas Filipino workers (OFW) and balikbayans (Filipinos who acquired citizenship in their host countries and are planning to go back to the Philippines for vacation or long-term stay), and expatriates already living in the country for the love of immersing with local culture and lifestyle.
