Freightdoggy
:if you are on a contract that simply expires when you turn 55 and you sign a new contract with lower pay - that's your problem.:
Just googled "Age discrimination legislation" in various countries and your scenario is exactly what is being legislated against......setting age criteria for retirement is illegal, lowering pay is illegal and changing provident/retirement funds is illegal, probably even taking the travel fund is illegal. There are some many links just do it yourselves.
Think about it CX would not offer A scales if they could get away with B scales legally