Yes, but there are tax reasons to prefer more going into a 401k tax-free. But in general I agree with you.

Here's a sample using $100k (yea we all make more than that, but lets use easy numbers):

Control Sample:

$100k with 16% 401k = $100k + $16k (401k) = $116k total comp.

Sample A (2% increase to base compensation):

$102k with 16% 401k = $102k + 16.3k (401k) = $118.3k total comp

Sample B (2% increase to 401k compensation)

$100k with 18% 401k = $100k + 18k (401k) = $118k total comp


Again, my point is that hinging 4th pillar on strictly 401k benefits, while disregarding base pay, is a fallacy.

I'll add an ignorant question: Is 4th pillar for older pilots in terms of age? Or rather, seniority? The two are not necessarily the same.