Concessions for life.
I believe that you are now entitled to concessions on retirement equal to your years of service. If you have served 30 years and retire at 65 then you are entitled to your concessions until you are 95. I would think that the last thing you would want to do at that age would be to be on Stand-by and have to run to the gate!!
I have my concessions for another 5 years but I hardly ever use them as I would rather go as a commercial passenger (the fares are not that different now).
The old deal was no doubt better but the new one is not too bad really, as far as I am concerned anyway.