When the age 65 rule was passed, all you could read about was the huge shortage of pilots. Obviously, that changed quickly; however, I believe that in the long run, there is still projected to be a huge shortage of pilots.

Also, look at how many pilots have lost their pensions. Many pilots were counting on that to support them in retirement. Since they no longer have that, some of them NEED to work beyond age 60 because they didn't have enough saved up otherwise. Also, 60 is relatively young considering that people are living longer and longer (or so that's what I hear).