The glut of the baby boomers will move through as they are already dying - that too should be acknowledged.    We do need new active workers to sustain those in retirement with at least social security, which by the way is hardly a life of luxury.   A reduced birth rate is putting the crunch on the old scenario of workers outnumbering retiree and able to sustain social security.  (Social security is NOT getting more generous)

It's also absurd to keep pushing the retirement age back.    Labor law or not, the older worker in any class but those with elite levels of education are going to be very hard to hire.  Sorry, but we break down physically, we break down mentally, we lose some of our adaptability to new concepts.    That rate of technological advancement is not going to decrease to adapt to an older workforce.    

The only ones not worried about adding more work years are those already sitting on comfortable retirement.