Camp Freddie: The problem with "inviting" pension administrators to reduce the age of retirement to 60 is that the pension recipient will be penalised by between an 18 - 40% reduction in their pension by taking it early.
Retirement @ 60 i.a.w. FCL is NOT a health limit. It is simply a regulatory limit - thus it canot be construed to form part of a health related redundancy or pension issue.
Pilots in this arena are well and truly screwed from both sides. C.C's do have discretion in these instances but I have yet to hear of even ONE case where he/she has awarded a full pension at age 60 to a serving pilot.
Either way, stopping work on a pension (even a full one) at 60, versus flying on a full salary to 65-66, carries an enormous financial delta.
Handysnaks link to the ECA - to me - suggests the fickleness of it all, as was stated in a later post; for aerial flying in exactly the same flying circumstances, one can legally continue to be gainfully employed. Pathetic jurisdiction if you ask me.
