Why should there be a rise in the retirement age

According to Survey 2019, it was proposed that the retirement age should be increased by the government from the current 60 years. Even though the survey didn’t mention what the new threshold should be, it mentions the pensionable age reforms being undertaken in China, Germany, Australia, the United States, Japan, and the United Kingdom which are progressively increasing their retirement age; take the example of Japan which moved it retirement ....