That brings the UK in line with what Australia has had for over 25 years.
Be aware though that you could only fly domestically in the UK, not to or over France for instance. This limits the type of aircraft you may be rostered on.
In OZ you have to retire from longhaul and bid onto the 737 or another domestic type to continue flying over 65. (If you can pass the training

)
Some continue , most buy a boat/farm/aircraft etc.