For COS 99 officers this will mean that you forego the one off opportunity to increase your retirement age, you will retire from the Company at age 55. With effect from 1st July 2009 no further extensions or renewal of extension contracts will be offered. In future, it is not anticipated that extensions will be offered again.
Let me get this straight; the same company that was so visionary that they couldn't make a good hedging decision, the one that predicted the crew shortage so well that we went from the DFO claiming us to be adequately staffed to "thank god the Oasis guys became available", this same company is now visionary enough to predict that they will
never increase the retirement age to 65. This could be a 30 year forecast for some of us.
There is either 1 of 2 things going on here. They think we are that dumb, or they are really not too bright themselves.