As the divide between rich and poor increases and employee benefits, such as retirement, less available elders will find it necessary to keep working until it is no longer possible. Furthermore, an unstable stock market effects income available to the elderly in retirement. Increasing medical costs and lack of cost-of-living increases in social security, coupled with rising medication costs, also cause a need for external sources of income from an aging population.
Modern medicine is increasing life spans, and, it's increasing the health within those life spans. People well into their sixties are now able to work without a problem, if they receive proper medical care. The retirement age is going to reflect that. There's no reason for someone of the age of 65 to leave the work force if they're perfectly healthy.
People in this day and age live a lot longer than people did twenty years ago and even when Social Security and other government programs from FDR's New Deal were implemented. With more people living longer you have to account for that and raise not only retirement ages but also the age in which one can collect social security.
The retirement age has already been increasing over the past years. Now, with uncertainties about social security even existing in the future, people have to save a lot more to be able to support themselves. That is a difficult task with the economy the way it is. There are not many jobs out there, especially where I come from. Then, if you can get a job it does not pay very much, and the most of what you make, if not all of it, is used to survive in the now. That's a big problem. People have to worry about being able to support themselves here and now, not leaving any room to worry about how they're going to survive in the future. So I think people will be working until they can't work anymore, way past retirement age.