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Major Airline Early Retirements

Old 06-02-2011, 11:53 AM
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Default Major Airline Early Retirements

With the decision of retirement facing thousands of Major pilots this month here is some data worthy of discussion:

Longevity Vs. Retirement Age
“Dr. Ephrem (Siao Chung) Cheng provided the important results in the
following table from an actuarial study of life span vs. age at
retirement. The study was based on the number of pension checks sent
to retirees of Boeing Aerospace.“

Age at Retirement / Average Age at Death
49.9 / 86.0
51.2 / 85.3
52.5 / 84.6
53.8 / 83.9
55.1 / 83.2
56.4 / 82.5
57.2 / 81.4
58.3 / 80.0
59.2 / 78.5
60.1 / 76.8
61.0 / 74.5
62.1 / 71.8
63.1 / 69.3
64.1 / 67.9
65.2 / 66.8

“This indicates that for people retired at the age of 50, their
average life span is 86; whereas for people retired at the age of 65,
their average life span is only 66.8. An important conclusion from
this study is that for every year one works beyond age 55, one loses 2
years of life span on average.”
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Old 06-02-2011, 12:09 PM
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Guess the gummers better make sure that they take their precious $$$ with them. Cause that's what's important.
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Old 06-02-2011, 12:14 PM
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They'll have to re-evaluate their data once the "Fly till 85" campaign passes.
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Old 06-02-2011, 12:26 PM
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Originally Posted by Phuz View Post
With the decision of retirement facing thousands of Major pilots this month here is some data worthy of discussion:
Your chart is an urban legend. See: Retiring early means a longer life – an urban myth? :: squareCircleZ
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Old 06-02-2011, 12:53 PM
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Originally Posted by Pineapple Guy View Post
PG

Thanks for posting that. That being said I still hope that many consider taking an "early" retirement before 65 and enjoy many years of retirement and health. I'm not yet 50 and find the work is constanly interfering with my leisure activities and interests. I hope our next contract provides a standard of compensation and benefits that gives us the ability to financially retire at 60 as the norm.
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Old 06-02-2011, 01:34 PM
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Originally Posted by TANSTAAFL View Post
PG

Thanks for posting that. That being said I still hope that many consider taking an "early" retirement before 65 and enjoy many years of retirement and health. I'm not yet 50 and find the work is constanly interfering with my leisure activities and interests. I hope our next contract provides a standard of compensation and benefits that gives us the ability to financially retire at 60 as the norm.
You got that right. If they offered me retiree medical I would leave in the next few years. If I was near 60 I would take this and enjoy the good life.
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Old 06-02-2011, 01:45 PM
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My old man was peeved that he had to be pushed out the door at 60... flying biggest plane and the best schedules, making the best money. In hindsight he is very happy that he had to go at 60. He's only flown an airplane once since his retirement... very involved with church, golfing, and staying in shape. Plus travelling various places around the world.

Hint hint to those of you on the edge.
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Old 06-02-2011, 02:37 PM
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Looks like I have less than ten years to go if I want to make my goal of having my kids change MY diaper (and hopefully that occurs in my late 80's or later). Thanks for the chart!!!
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Old 06-02-2011, 03:04 PM
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Originally Posted by TANSTAAFL View Post
PG

Thanks for posting that. That being said I still hope that many consider taking an "early" retirement before 65 and enjoy many years of retirement and health. I'm not yet 50 and find the work is constanly interfering with my leisure activities and interests. I hope our next contract provides a standard of compensation and benefits that gives us the ability to financially retire at 60 as the norm.
Couldn't agree with you more; and I'm still on track to be out of here by 60. If the stock market cooperates.... Sad thing is, I'll never fly what I would have, absent the age change. Too many guys hanging on way past 60.
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Old 06-02-2011, 03:16 PM
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So if you never work, you will live forever?
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