The pilots most affected would be those with an Australian base, such as Cathay and Air Niugini, or those on a reverse roster such as China Southern. Any pilot on a commuting contract will probably get caught up in the net, even those on non commuting contracts who string days off and annual leave together, and use staff travel to enable an extended stay at home will need to be very careful.
Basically you will be able to get away with three breaks of a fortnight each annually, if you want to play it safe.
Retiring back in Australia would still be be an attractive option as you would be on a lower income and paying resident tax rates while enjoying Medicare and a seniors card. A decent climate, good infrastructure and plenty to do could make it worthwhile going back into the system. Coming out even would be acceptable to most people, compared to being milked dry for little in return.
Someone working in Qatar for example, whose made his wedge, might not mind paying a few thousand a year to retire in Noosa or on the Gold Coast. Cheap options are available in SE Asia as well, many Australians leave home to retire in these places and enjoy a higher standard of living at a lower cost than they would have in their own country.