When people hear “pension” it is easy to think immediately of government jobs, however there are a wide range of sectors and positions which can provide financial security in the future.
As the cost of living reaches new heights, many are understandably concerned about planning for the future in a time when it is so difficult to save. Even for young, highly employable people who are many years from retirement, the future can seem daunting, so finding a career which provides employees with a pension is often a high priority. A study conducted by the investing comparison website Investing Reviews has found the best industries to receive a solid pension.
By analysing ONS data, Investing Reviews has found that working in public administration and defence offers the best employer contributions to pensions, with 68% of employers in the sector contributing 20% or more. Education is the second-best sector, with 64% of employers contributing that same amount.
19% of employers in the electricity, gas, steam, and air conditioning supply sector contribute 20% or more to their employees’ pensions, placing this industry third on the list.
Human health and social work are areas which can also lead to a good pension, with 15% of employers contributing 20% or more. Working in water supply is also a good route, with 11% of employers contributing that same amount. Pensions are moving ever higher on the list of employee priorities, and in uncertain times, providing a generous pension is a great way for businesses to attract often scarce talent.
While the arts and entertainment industries are not often thought to come with a pension, 8% of employers in these sectors contribute 20% or more, which is only just below the contributions of the water supply industry.
The study also found that the wholesale and retail trade is the worst industry to work in for a pension, with only 1% of employers offering an at or above 20% contribution.
For people searching for a new job, a pension can be the deciding factor. It is important to remember that solid pensions can be found not only in the first industries that come to mind, but across a wide range of sectors so long as job hunters are willing to seek them out.
The priorities of employees are changing. Find out how you can attract new talent to your business here:
