Yes, raising the retirement age makes sense, because people spend more time in school. Because college is mandatory for a good job these days, people do not begin work, often until they are almost in their 30s, or later. People need to work later in order to make sure that the social security system doesn't collapse.
Young people today, especially women, are going to college in greater numbers than ever and so it would make sense that they would be entering the work force later. Not only that, but our life expectancy is greater than it has ever been, which means we have the physical and mental capability to work later in life than before as well.