This is an interesting discussion and I need to declare an interest since I’m coming up to my 50th year of membership.
I’m strongly in favour of scrapping this tier of membership for the following reasons:
1) I don’t think it is fair that older (and usually more wealthy) members are subsidised by the rest of the membership.
2) I don’t think you need to be “honoured” for being a member for 50 years. Surely you’re a member because you want to be and you get something out of membership. It is not an ordeal that needs some kind of prize after 50 years.
3) When no money is taken each year we have no idea whether the honorary member is alive or dead. We’ve had cases where we have sent Journals and Handbooks to members many years after their membership of life has ended.
As David and Andy have pointed out this isn’t a final decision. It came from the trustees and has been agreed at Council but it could be overturned at the SGM if members wish. I think that would be a mistake since our complex membership tiers definitely need simplification but it is a decision for you.