Mostly yes, with two honest caveats: it depends on whether the cause was addressed as well as the symptom, and permanent stability is not the same thing as putting the house back exactly where it started.
Stabilize Versus Lift
Once piers are installed, there is a choice.
Stabilizing means holding the house exactly where it is now and stopping further movement. The load transfers to piers bearing on competent soil or rock, and the settled section no longer follows the clay up and down with the seasons.
Lifting means jacking that section back toward its original elevation. It closes cracks and is more satisfying to look at.
Lifting also carries risk. Plaster, tile, brick, trim and windows have spent years adjusting to the settled position. Moving them back can open new cracks in finishes that had long since stopped complaining. On an older Birmingham home with original plaster, a cautious partial lift is very often the better outcome than chasing dead level.
A contractor who promises full lift on every house, without discussing what your finishes will tolerate, is overselling.
Whether It Lasts Depends on the Water
This is the part that determines longevity. Piers stop the house following the soil. They do not change the soil.
If the underlying cause was a downspout discharging at a corner, a driveway pitched back toward the slab, a plumbing leak under a bathroom, or a footing drain that has silted up, and that is not corrected, you have addressed where the house sits without addressing what moved it. You may well see problems appear elsewhere.
The repairs that last are the ones where drainage was corrected as part of the job. It is the cheapest element of the work and the one most often left out of a quote.
What Warranties Actually Cover
Most pier warranties cover the piers, not the house. They typically guarantee that the supported section will not settle further, and they generally exclude areas that were not underpinned, cosmetic damage, and movement caused by new water problems.
Read what is transferable if you sell, because a transferable warranty is worth real money at resale in a market where buyers are alert to foundation history.
The Realistic Summary
A properly engineered pier repair, with the drainage corrected, should hold for the life of the house. What it will not do is return an older home to the geometry it had when it was built, and expecting that leads people to buy more work than they need.