lifter123

I'm new to the forum and don't really understand the new age 60 rule. The overwhelming majority is extremely negative about the whole situation. What are the negative parts of the new legislation that everyone is mad about? Thanks in advance for all of your input.

mcartier713

The mandatory retirement age for airline pilots was 60. This new bill/law increases that age to 65. Many of the older pilots believe if they are still physically able and willing to fly there should be no reason to retire.

Many of the current airline pilots feel negatively because it slows their careers progressions down by "5 years"... instead of them being able to upgrade as these pilots are forced to retire, they now have to sit in the right hand seat for another 5 years...

Also, the regional pilots are upset because this takes many of the job openings away from the majors, so they are stuck longer at the low paying regionals.

Then it all boils down to people like me, who have yet to enter the industry professionally. I currently have around 300 hours and would have been relatively close to getting a job with the current minimums and "pilot shortage"... now it's going to be increasing difficult to get a job and will take much more time... although i see this as a huge disadvantage, some people see it as an advantage because the hiring minumums will go back up hirer where they should/used to be... but for my sake, i don't like it. lol

thats my 2 cents anyway.

mike734

What makes you think the "overwhelming majority" is against raising the retirement age? From what I remember the ALPA poll was very close and I believe it was taken before some of the major boys lost their pensions. I suspect the results would be different today.

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lifter123

Thanks for the constructive post Mcartier. Makes sense that it could potentially delay someone's upgrade 5 years. What are the positive aspects to the legislation...from a pilot's point of view? Thanks

fdxmd11fo

If you are in the left seat you get to keep on making the big bucks.

If you are young there are retirement issues and tax issues. We have a B fund because we were forced to retire prior to Social Security. There will be a huge fight and tax implications on our B funds now.

At my company if you retire early there is a 3 % per year penalty. If I retire at 60 Fedex will take 15% of my retirement so in stead of getting 50%. I get 35%.

FoxHunter

You are some confused.

fdxmd11fo

So FH, tell me where I am wrong

FoxHunter

You still would retire at 50% of your best five years. That number would be reduced by 3% per year early. The normal retirement age remains age 60 unless the company and union change that at some future date.

mike734

Way to avoid the question Lifter!

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Futureman

Everyone who is not already a captain is against this. You benefited from age 60, and now you want to benefit from 65. You don't care that it screws EVERYONE behind you.