Originally Posted by SkyHigh
What you have to realize is that after a full career of being an airline pilot guys who are nearing 60 normally have no home, friends, family or hobbies left to retire to. Who are they going to scream at after they retire? Randal is an excellent example of a 60 year old airline pilot; Lost in his own world, completely self absorbed, prepared to sacrifice all else in pursuit of his wants. Totally unconcerned about the consequences of his actions upon others. Just how is he supposed to integrate back into the real world?
SkyHigh
As usual Skyhigh speaks from not his mouth but from his
A$$.
Most pilots do not want to work past 60........they have to!
With the industry in turmoil and pensions being wiped out...................
What choice do many Pilots have. They were counting on a comfortable Pension....no make that
they earned a comfortable pension for 20 plus years only to have it taken away. Now they must work past 60 to have a cromfortable life.
Also most of us in this industry have been forced to switch Airlines once or twice.......... or thrice.
When a Pilot switches airlines he goes to the bottom of the list with his/her new airline/ (translated to bottom pay scale)
Most of our pension plans are formualted on earning levels. i.e. W-2's.
Companies that Formerly had A-plans (Defined Benefits) where you recieve a monthly check from the company after you retire. But if that company Lays you off or goes bankrupt or Liquidates..........That pilot receives little or NO pension. Then that Pilot must start over at a new airline and his retirement benefits start from Zero................................
Many Pension plans require a Pilot to be actively working for 5-7 years before they are vested (are qualified to receive anything at retirement. Most Older plans the pilot must actively work for 25 years to MAX out his retirement.
The trend in the Industry now is to shift to Defind Contribution Plans.401K's and B-plans. Many are self funded accounts with some Company matching...............a far cry from what they once were.
A few who post on this Forum are no longer Airline Pilots. A certain individual who posts quite often never made it far enough in the industry to speak from experience.