I worked in ops at an small airline for a while and we had a few Capts at or over 60. I know this isn't always the case but I don't think any of them needed the job. They all seemed to own multiple properties and some even had second sources of income (small business).
Where I come from if you have even moderate assets you don't qualify for the state pension. Saying they have to stay until pension age won't work here.
On another thread someone wrote, "Capt John Smith of BA" won't retire because then he will just be "John Smith".