Gig worker, Rene Valenzuela Jr., is a 37-year-old app-based ride-hailing driver in the four-wheel segment. But first and foremost, he is a caring father and a loving husband.

When his wife goes to work during the day, Rene looks after their three-year-old daughter, making sure she is well-taken care of. The driver, meanwhile, works during the early hours of the morning before his wife heads to the office and in the evening when she returns home.

This is their family's daily routine. While it may be exhausting, Rene finds it rewarding. He said this setup allows both him and his wife to be there for their kid, especially during her early formative years.

The Makati resident puts in long hours because he wants to provide his daughter and wife the good life they deserve. At the same time, he is being smart with how he spends his hard-earned money. The gig worker, who previously worked in accounting, not only saves for the rainy days but makes sure his idle funds are earning passive income.

This is in line with the findings in a study by global insights firm Ipsos: With 59% of Filipino freelancers viewing gig work as a viable long-term career, workers see savings, investing, and retirement planning as essential. The research notes that the respondents' financial behavior aligns with the belief that gig work is not just a temporary “sideline” but a sustainable income strategy.

Along with this, the study has revealed that Filipino gig workers also want control over their social protection, which includes retirement planning. The freelancers "express a strong preference for managing their own social benefits to ensure alignment with their individual needs," the research stresses.

Rene, for his part, says he is currently putting a portion of his earnings into Pag-IBIG (Home Development Mutual Fund) MP2 (Modified Pag-IBIG II), which is a voluntary savings program designed for members who want to save more on top of their monthly contributions.

“Mahalaga yung ganyan kasi pagdating mo ng retirement, mapapakinabangan mo sya. At the same time, yung pera dyan, nagkakaroon ng interes,” he says. (That’s important because when you reach retirement, you’ll be able to use it. At the same time, the money also earns interest.)

The MP2 was launched by Pag-IBIG in 2010. Under this program, members can save a minimum of P500 per month for a period of five years. MP2 savers may choose to receive dividends annually or have them compounded for greater earnings.

The ride-hailing driver explains that MP2 offers a higher interest rate than regular savings accounts, helping him build up his funds.

According to Pag-IBIG, the annual return rate for MP2 savings was at 7.10 percent in 2024, higher than the 7.05 percent set in 2023. In comparison, traditional savings accounts only earn below 1 percent per annum.

Rene is setting aside the savings for his child’s tuition when she goes to school, which is a few years away. Looking further ahead, he has even bigger plans: securing his retirement.

By the age of 50, Rene hopes to retire from working. He is determined to reach this goal by persevering today, staying focused on the future, and making each effort count.

The ride-hailing driver is among the 61 percent of gig workers in the country who are actively planning for retirement. The Ipsos study says this reflects "an awareness of the need for financial stability beyond their current earnings."

“Nag-iipon kami nang maaga kasi guso naming mag-retire nang maaga,” he says. (We’re saving early because we want to retire early.)

He has started a long-term retirement plan with his wife by purchasing a 2-hectare lot in Masbate, where they plan to establish a farm. The goal is to raise some livestock, he says.

He sees the family moving to Masbate eventually in the future, away from the hustle and bustle of Metro Manila. For him, the farm represents a place where his family can slow down, live closer to nature, and enjoy the simple pleasures of life.

Rene’s journey shows how gig workers are taking charge of their financial well-being. By planning early and making strategic investments, he is leveraging the flexibility of gig work to achieve lasting stability.

Ipsos surveyed 1,500 gig workers in the Philippines for this study.