Rain Man wrote, "The reason some of the world has raised their retirement age is because those countries don't pay their pilots anything."
I wouldn't call USD20k/month "not being paid anything", because that is roughly what Japanese airlines pay their Captains, and Japan raised the age 60 retirement to 62 a couple of years ago, and has now upped it to 65.
Having just flown with my first blue-eyed F.O. the other day, I gotta tell you, I do not support the 2-pilot rule. He was slow, lethargic, and couldn't even remember the responses to the checklists. A nice enough bloke, but not someone I want carting my family around!!!
Ban ALL F/O's I say, based on this one bloke's performance!!!