This study examines the subjective quality of life of globally expanding senior citizens post-retirement, from a volunteering perspective. Formal volunteering is one way to engage retired seniors, providing social connectedness and enhanced well-being while potentially reducing their support service needs. It also provides a valuable resource to nonprofits. Thus, it is a win–win for both these individuals and their societies. This study has empirically examined associations between regular formal volunteering and seniors’ personal outlook, in the context of enhanced subjective quality of life. Past research has overlooked this important perspective, which often influences relationships between volunteering and subjective quality of life. Surveying 207 seniors, this study found that voluntary work perceptions are often associated with regular formal volunteering, which in turn is associated with the individual’s personal outlook, which in turn is positively associated with the aspects of subjective quality of life, particularly mental and emotional well-being. These results will guide policymakers on improving the quality of life of seniors through their extended involvement as volunteers, including for nonprofits, ways to recruit, train and manage their volunteer workforce and take action in further increasing the profile and the availability of formal volunteering.