Strong today, uncertain tomorrow: New research reveals energy and utilities workers are anxious about retirement despite strong pay

New Economist Enterprise research, supported by Nuveen, exposes a deepening disconnect between the financial anxieties facing workers in the energy and utilities sector and the benefits systems meant to protect them.

New research released today exposes a striking paradox at the heart of the energy and utilities workforce: despite relatively strong and stable incomes, workers in the sector are more anxious about their financial futures than employees in nearly any other industry. The research finds that 90% of energy workers say market shifts periodically affect their benefits, with more than a third (36%) experiencing frequent disruption. Yet even as the day-to-day impacts of energy prices and regulatory change ripple through the workforce, the deeper anxiety is about what comes next.

Nearly four in five energy workers (78%) are worried that inflation will erode the value of their retirement benefits, the highest level of concern across all sectors surveyed, compared with 69% in other industries.

In addition:

• The majority of energy workers (63%) say they made initial retirement plan choices and rarely revisit them: a figure that rises to 84% among junior employees and 77% among middle managers.
• 76% of energy workers describe themselves as well equipped to make retirement decisions, yet 66% have made a benefits choice they later regretted due to a lack of information or support, both figures higher than in other industries.

For plan sponsors, this gap between confidence and outcomes represents a clear and urgent call to action.

"Energy and utilities workers are navigating real financial anxiety," said Brendan McCarthy, Head of Retirement Investing, Nuveen. "Workers are making retirement decisions they later regret, and too many are locked into choices made early in their careers that no longer fit their needs. Plan sponsors in this sector have both the opportunity and the responsibility to close that gap - with better tools, smarter engagement, and benefits built to withstand the volatility that defines this industry."

The full findings, including data highlights and editorial analysis, are available at Nuveen.com/Benefits.

About Nuveen

Nuveen, a TIAA company, is a global investment leader, managing $1.4T in public and private assets for clients around the world, as of December 31, 2025. With broad expertise across income and alternatives, we invest in the growth of businesses, real estate, infrastructure, and natural capital, providing clients with the reliability, access, and foresight unique to our 125+ year heritage. Our prevailing perspective on the future drives our ambition to innovate and adapt our business to the changing needs of investors — all to pursue lasting performance for our clients, our communities, and our global economy.
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