this is a collective fund where the working generation pays for the retired.
There's the big difference between the French and Dutch. About half a century ago the Dutch pilots started a pension fund, that is independent of the working generation. Everybody builds up his own pension which is based on individual income and years with the company. The premiums are paid by pilots and company. By the time
AF bought KLM for 784 million euro, the pension fund had a surplus of 2,4 billion euro.
The credit crisis has hurt the pension fund of course, but there is still some surplus and for the time being no dark clouds on the horizon of the
BlueSkyGroup
Some KLM pilots start a career at an other airline after retirement.
This does not influence their pension. After all they paid for it themselves