Best Jobs with Pensions

Jan 20, 2020

Best Industry Options for Jobs with Pensions

There are several types of retirement plans out there, but the term pensions is typically referencing the defined benefit plans to which the employer contributes and to which the employee becomes eligible to receive payments upon retirement after becoming vested (which typically requires a certain amount of years employed with the company). Pensions are not as prevalent as they used to be and typically will be found more often in industries within the public sector and those that have unionized workforces. Here are some of the industries where pension benefits are still offered.

Information on Industries that Offer Pensions


The utility industry consists of companies that manage the infrastructure to produce, provide and deliver services including electricity, water, and natural gas, as well as the removal of sewage. The generators and distributors of energy, such as electric and gas companies, make up the largest portion of this industry.

The jobs that can be found within these companies include customer service representatives and human resources personnel, as well as more industry-specific jobs such as meter readers, electrical engineers and electrical power-line installers and repairers.

Manufacturing and Production

The manufacturing and production industry consists of businesses that make goods, most of which are mass produced in large factories. If you are picturing an assembly line at a car manufacturing plant or soft drink bottling plant, then you're on the right track. Of course, not all goods are manufactured or produced like that, and not all manufacturing and production jobs consist of working the assembly line.

As with any company, those within the manufacturing and production industry have many types of employees including manual laborers, administrative staff and top-level executives. Some of the more industry-specific jobs in manufacturing and production include machine operators, assemblers, quality control inspectors and machinists.


Another industry that still has companies that offer pension plans is the pharmaceutical industry. This industry, part of the fast-growing healthcare sector, discovers, develops, tests and ultimately makes available pharmaceutical drugs and prescription medication.

While this industry employs those in a variety of fields including lawyers and accountants, this industry is very scientific-based and some of the more industry-specific jobs include chemists and epidemiologists, as well as animal and life scientists, microbiologists and lab technicians, among others.

Insurance and Finance

The insurance industry is comprised of companies that offer various insurance products to include life insurance, medical and dental insurance and even auto and homeowners insurance (known as liability insurance). The finance industry consists of banks and credit unions as well as companies that offer financial products and other investment services. Although these are two separate industries, there is definite overlap as several companies offer both insurance and financial products and services.

Some of the jobs within this industry include insurance brokers, underwriters, financial analysts, bank tellers, and investment managers.


The public education field, including primary, secondary and postsecondary education, is well-known for its teachers unions and its advocating for, and offering of, pension plans. While most (but not all) public education institutions offer pension plans to its teachers, there are some private institutions, including universities, which also offer pension plans (but these are rare).

According to the U.S. Bureau of Labor Statistics, the expected job growth rate for postsecondary teachers through 2028 is 11%, which is much faster than the average, while the expected job growth rate during that same time for primary and secondary teachers is 3% - 4%. A minimum of a bachelor's degree in education is required for primary and secondary teachers along with any state-mandated teaching certificates. In addition, for secondary teachers, a major or concentration in a specific area such as English, math or science may be required. Postsecondary teachers may also perform research and are typically required to have a Ph.D., although a master's degree may suffice for teaching at a community college.

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