These are proposals only at the moment, and in part relate to the forthcoming age legislation to be introduced by October by the Government and not just the pension discussions.
The increase, if agreed, will only be to the Compulsory Retirement Age (CRA) which is presently the same for the majority of pilots as the Normal Retirement Age (NRA). There will still be the option to retire at 55, but possibly of lesser terms.
As to recruitment, then obviously for each pilot staying on beyond 55, the requirement for recruitment will decrease, follows on as a consequence.
BA last week announced that it had secured production slots for up to 10 777's, with further orders to be annouced once the pension situation has been resolved. As I understand it, these will represent fleet expansion, although some will replace older aircraft. It is this expansion plus (reduced) retirements that will fuel recruitment over the next 5 years or so.
What happens to LGW is another factor.