The original retirement age for airline pilots in both the USA and the UK was 65 until sometime in the late seventies or early eighties when it was arbitrarily changed to 60 without any consultation with the workforce. In the USA it was said that the then CEO of AA wanted rid of the older guys on high salary and pensions etc. and a friend in the FAA obliged, don't know how true that is.
In the UK it was just a statement issued overnight, done deal. I was obliged to retire from a very good airline job at the age of 60 and I resent it very much. Probably wouldn't have gone to sixty five but a couple or three more years would have been good. I think 70 is pushing it a bit too far, but 65 is just getting back to the original 'normal' retiring age.