There are those who say Delta and Northwest may go the same route. The government-run pension fund pays out a maximum of $45,000 a year, but that's for people who retire at age 65. For those who retire at age 60, including airline pilots, the payout is only around $28,000 a year.ommercial airline pilots must retire at age 60. That hasn't been a problem in the past because pilots had generous pensions. But with several of the major airlines in bankruptcy, pilots are seeing their pensions reduced and some are fighting mandatory retirement.
To determine how much retired pay you may be eligible to receive, the first step is to calculate the number of equivalent years of service. The formula for computing equivalent years of service for Reserve retired pay at age 60 is fairly simple: Total number of Creditable Retirement Points, divided by 360.
You get one point for each day of duty. You need to accumulate 75 inactive points per year for 20 years to be eligible to retire. 60/75 POINT RULE. Guard/Reserve members may accumulate a total of 365 points per year (366 in a leap year) from inactive and active duty service (one point for each day of duty). However, for retired pay calculation purposes, members canât use more than 60 inactive points per year (for Reserve years ending before 23 September 1996) or 75 inactive points per year (for reserve years ending on or after 23 September 1996).