Originally Posted by
World Flyer
Can I ask. How is this influencing current pilots plans? Firstly, will people be postponing retirement a few more years? Are people less able to do part-time now?
Or do you see people leaving to the likes of China to fill the shortfall, as mentioned in a previous comment?
I think that the vast majority of pilots will simply be poorer in retirement than their forebears. The DB genie cannot be put back into the bottle, so we will all work longer (55 to 60 to 65 already happened, 67 to 70 in the pipeline), have our benefits capped (max contribution to pension reduced year on year since the start of the millenia), low returns on investments and low interest rates probably set for years to come. I'm not convinced that even selling your soul to the Chinese will net you an APS style pension at the age it was available.
Watch the Budget this week to see what the next slap in the face will be for the fiscally prudent, then be very glad you aren't a 25 year old FO.