Airlines could quite realistically offer very generous retirement benefits to entice pilots to join and stay long term because with 900-1000 hours of ultra long haul flying a year nobody would live very long after retirement to make the cost prohibitive.
A BA 747 captain in the 1970s wouldn't be doing 14 hour legs and would only do around 60 hours a month of shorter sectors with more time down route and at home to recover. Retire at 55 on a full pension and spend the next 20 years on the golf course.