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.
Per paragraph 8.C.5, COMDTINST M1001.28(series), Reserve Policy. Manual, reserve component members earn retirement points for satisfactory. completion of correspondence courses that have been evaluated for retirement. point credit by Commandant (CG-131), Commanding Officer, USCG. Institute, or the Chief of Naval Personnel.