Quote:
The PBGC basically wants to use all the pension money for government funding for unrelated things. If they can hold on to the money for another 2 years, they can keep the funds for other things they want to use it for.. they succeeded in doing that when they raised the age from 60 to 65. They did not have to start paying pensions for another 5 years. Now they will get another 2 years out of it if they can raise it again. The only country that has the age 67 rule as of now is Japan. And due to ICAO rules, they are all doing domestic only flying. Again, the companies are lobbying against this rule this time because they cannot get 5 years of international flying out of any of there 65 plus pilots like they did when they raised it from 60 - 65 because ICAO does not allow it. Currently it will only benefit the pension board as they get to keep the pension money for another 2 years.Originally Posted by Big E 757
So where are the airline management voices? I agree Management doesn’t want this, so I thought it would never happen. Now it looks like it’s happening. A lot of Pilots will end up on disability at some point so this is going to add costs with almost no effect of staffing levels, as a lot of pilots will still go out at 65 or soon after. I don’t understand why the government is even bothering raising the retirement age.