Retirement age
 

update 17/11/05@1520
Today by a majority vote the Senate Committee on Commerce, Science and Transportation has amended the bill S.65: A bill to increase airline pilot retirement age to reflect social security age to the following: Pilots will be allowed to work until their 65th birthday providing it is a crew served operation and that the other pilot be under 60. Further that the over 60 pilot must take two FAA medicals per year and one with EKG, further that the National Transportation Safety Board evaluate the new rule two years after enactment. The enactment is to be within 30 days of activation of the ICAO revision of its retirement guidence of age 65. This is anticipated to be November 2006.

The bill has been marked for presentation on the Senate Floor as amended for final vote.

Cx already has retirement at 60, they just re-cycle guys onto the freighter (both classic & now -400 as well) on yearly extensions.....and so anyone who wants to continue working can. This situation just undermines the position for everybody else at CX and it would be far better to reach a sensible agreement for people to work to 60 rather than allow this "Back door" deal to continue.

"More guys to train you"......

What a load of #$%t! You can be sure that I am voting NO to age 60. Some S/O's are already pushing 4 years for there J/FO upgrade whilst you continue to earn the big bucks in the left seat.

Why would you want to work anyway over 55, unless you have 4 ex wives and 10 kids to support?

Forget it go on pension!!!!!!!!!!

Busdriver, I think you'll find that your vote doesn't count!
KA already retire at 60 and I think you'll soon see a move to 65 endorsed by the CAD. KA have already had a pilot over 60 but he had to move to the right hand seat.

Fly 747

Exactly so. The CAD will follow ICAO recommendation to 65 by Nov 2006 as will the rest of the world! This will mean pax fleet to 60 and freighters to 65!:p

The UK government are likely to increase the general retirement age to 67 due to the pensions crisis. The EU age discrimination law is likely to be enacted next year too. I expect BA to go to at least 60 in anticipation. Because they are short of pilots anyway it should only delay commands by 18 months.

ONLY DELAY COMMANDS BY 18 MTHS...

That equates to HK$1.770750 give or take, that I loose out on!

Tell me again why should I say YES to age 60?

because one day you'll be 55. :hmm:

ALFRED's hit the nail on the head. How many of those arguing against retirement at 60 will be saying the same thing when they're approaching 55? Certainly not those on B-scales (like me!) when they realise their provident funds won't fund a comfortable retirement at 55. With retirement ages on the increase in other industries worldwide, retirement at 55 is becoming increasingly unrealistic and possibly unsustainable if the company is to continue its expansion.

Busdriver, have you stopped to consider that the biggest drag on YOUR command is the company's ability to train people. With a large number of trainers rapidly approaching 55 (no, I'm not one of them!), YOUR progression will be delayed if age 60 doesn't go through. With a new aircraft order on the horizon, CX is on the brink of an expansion - perhaps it might be in YOUR interests that age 60 does go through. :rolleyes:

Fair bit of discussion on the Age Sixty rule on this board already, some of it here .

Busdriver.....your maths seems pretty poor, I doubt you'd get through a command course..............

If a delay of 18 months costs you 1.77 Million dollars

then the extra 5 years working gains you 5.9 million dollars

Hence net GAIN 4.13 Million Dollars


HMMMMMM................:D


and your provident fund continues to grow for 5 years.

Kinda puts a different light on things....................

Inordinate amounts of toss-pottery being written on this thread.

I do not have 3 ex-wives to support. Nor do I have any failed investments that I have to fund. Neither do I have an outrageous lifestyle that I wish to continue till I drop.

BUT, I do think that 55 is young to retire. My own pension pot will be ok at 55 BUT I would like the opportunity to decide closer to the time. I want that option to be open to me.

Cathay is a business. To expand the business it needs pilots. 60 will become part of COS and soon, simply because the company cannot train enough pilots to fulfill expansion plans. The best thing would be to accept this and get the best deal possible for the people who elect to stay on past 55.

Busdriver,

Why are you so overly concerned about a delay in your command due to age 60? Wouldn't all the other hoops you have to jump through first concern you more? You may never get an opportunity to begin a command!:}

60 is, and has been since about 1970, the accepted retirement age. (When it was then increased from 55!)

So what's all this crap about 55?

Are you Cathay pilots on another planet or what??

:confused: :confused:

Smug attitude to be saying you don't have 3 ex-wives to support! Do you think any of those that do planned it that way. Ah, the arrogance of youth! I know more than a few guys who, when approaching retirement, have their wives decide they've had enough and leave, taking most of the assets with them. Puts a whole different perspective on it.

Well Amos, in the UK, in 1970, the retirement age was 65 and was later arbitrarily reduced to 60. 55 was used by the likes of CX, QF, BA etc to suit their pension fund requirements, as, after 55, it wasn't possible to increase the pension so why stay?!
But that was then.

Knackered 2, sorry matey, it was not my intention to come across as smug or arrogant, apologies if I touched a nerve.

Just wanted to say I do not need to work past 55 at present. BUT... if the nagger does a runner with the family silver I would like the opportunity to work on . I would feel more secure if that option was open to me.

rgds

Forget about retirement at 60...................65 it is.......................The US will vote this into Law in November 2006 and the European Union will enschrine 65 retirement in law early in 2006............As the Hong Kong CAD/Government follows the UK CAA/Government 65 retirement will become law at the end of 2006.................So no need to negotiate with the AoA, they will just issue ammended contracts, maybe even with a note saying, "sorry, boys, but it's the LAW !!!!"