The Inland Revenue have no rules against early retirement on pension. The airline in question has used this kind of mechanism several times in the last ten years to get rid of pilots when it suited them.
The pension trustees have no objection because the pension is in surplus.
The company in question is attempting to sack nearly a hundred junior pilots and needs to convince an arbitrator that the redundancies are really necessary. If there was a mass uptake of the early retirement option by older more senior pilots then their case would be destroyed.
They simply want to save themselves the cost of promotions on junior pilots to replace those seniors who might leave.
Tailscrape, I have no intention of stopping working right now. I simply want to choose where and for whom I work in future. I have an entitlement here that I've paid for with my own money and there is no reason why it can't be OKd, except for the duplicity of the management concerned.
PS The picture is in the minds of those with a mind to see. I think anyone under 35 is probably disinterested...please ignore and go back to chasing skirt. <img src="wink.gif" border="0">