I may be wrong, but my understanding is that, although the licence remains valid, it is not valid for scheduled passenger use beyond 65. I know of at least one person flying a jet as he approaches 70, but it is a private aeroplane. So, if you are flying a corporate jet, OK, but the majority of pilots are flying for the airlines. Don't say that pilots should have a private pension in place. Many had company schemes that went down the tube with the airline (think Robert Maxwell/BA helicopters), and the government guarantee has only been in place for a few years.