It's time for him to say goodbye, but not too early, lol... I have a feeling that even how popular he is in the Philippines, he would not win in the election and boxing fans would not allow that as they want him to continue fighting to bring glory to the country through boxing.
This is unpredictable, at his age, he can able to fight in the ring and it could be there is no retirement if he will lose this fight but he will luckily win, possible he will declare a resign. In boxing history, only Manny Pacquiao had very successful in life, which means he was able to manage his future into a successful one, I cannot imagine him become a senator despite his being a professional boxer.