The basis of formula pay is sound. The problems result from modifications and concessions we have made at one time or another. If we made the effort to restore the principle of formula pay including maximum two year flat salary, we would have a very solid basis for remuneration.
ACPA has studied pay systems in detail and believes that formula pay is the best system for the membership. Suggest you might review the results of these efforts. It may change your position.
In my personal opinion, ACPA is unable to withdraw from the Age 60 issue. The membership is exposed to litigation and possibly liable for substantial penalties. ACPA has no choice but to continue along their current path hoping that they can avoid a large lawsuit by achieving a positive result.
Mitigating retention of 60+ pilots has yet to be discussed, though I believe a return to indexed pensions, extension of the contribution period, and reduction of years required to qualify for pension would assist in encouraging pilots to consider earlier departures. Those pilots who have a passion for the profession will stay no matter the incentives to leave.
Complicated issue that will only be resolved by rational and intelligent examination, discussion, evaluation, and implementation.
