Liam - term contracts specify a term, normally in months. Our C of S specifies an age.
I reckon that if and when (more robust) age discrimination legislation is enacted in Hong Kong, ie statute law, age related clauses in our C of S will have to be deleted. The limiting factor then becomes the ability to hold the licence, 65 yrs+...
In this case payment of bypass pay could be deemed "discrimanatory" by those not receiving it...