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.
How to determine Your Active Duty Retirement. ARPC NOTAM 0013 -- Commanders- Over the years, we've received a number of requests from members asking how to compute active duty retirement. Some interpret it to be 7,200 points and others 7,300 points (365 x 20 years) is the key denominator and it is not. An active duty retirement is based on service, 20 years of Total Active Federal Military Service (years, months and days).