Parabellum, even though the retirement age went up to 65, presumably, you would not have been able to secure employment in Australia, from what you say, anyway. But by going to 65, again, presumably, you regret the freedom of choice of, perhaps, being able to go another five years, somewhere else ? Frustrating & cost you, potentially, another five years of top-end earnings. Was there any possibility of seeking employment outside of Australia up to age 65 ?
Mate of mine worked for a ME carrier that just could not handle the age issue. Local Regulatory Authorities all cleared the Age 65 Rule. His company, forced to recognise this (local labour laws didn't for expats) got into a terrible muddle. Enhanced medical standard was enforced (not by the local CAA but by the company) and quite a few failed. Only one year contracts of employment were issued. He fell fowl of the enhanced medical but took up his case with the UKCAA. He obtained his UK CAA Class one & local CAA AME passed him for the local Class one. The Company went nuts and insisted that he was required to pass the Company enhanced medical & had no interest in where he obtained his Class one medical certs ! He battled on but , eventually, all pilots aged over 60 were didmissed. I cannot say if this was for expats or locals too.
He feels as miffed as you do & often wondered if there was a case for these pilots to sue on the basis of loss of earnings. He was 63 at the time of the cull & just got on with retirement, pleasingly, very happy.
For your loss, parabellum, there is probably insufficient case to head towards the courts & I doubt you would want too anyway. All a bit of a disappointing mess for those caught in the transition. My mates in UK carriers never faced these problems. Age went up to 65 & that's it. Cool.Anyway, five years earnings as a B747 Skipper is nothing, eh ?.........Yeah, right.