Many people like me have worked very hard in our young life to support ourselves in the future. When you are 65 years old, you should not be working unless you own a business of sorts. If you work hard at a young age you will be set for yourself when you get to any age, especially 70 if thats the age they change it to.
It is absolutely not fair to those who are now near age 65 to suddenly have the retirement age increased to 70. However, in the long run, I feel this is a necessary step in order to avoid the bankrupting of Social Security and Medicare, and it is entirely reasonable given longer life expectancies. Perhaps something like raising the retirement age one year every presidential election, so it is age 70 in 20 years, would work.
We still begin to deteriorate at the same age and at the same speed that we would have done. We simply have to deteriorate further than before to be beyond help. There is a natural limit to how long humans can live, most of us don't come close to that limit.
Those who have worked hard all their life at their jobs, and/or raising a family deserve to be able to sit back and take it easy if they want. There are many people who spent their adulthood providing for their family, without options or opportunities for leisure. A retirement age increase of five years would mean some people would not be able to retire until age 70. People should be able to spend part of their life enjoying things they couldn't as younger adults, not expected to work until they are too old to enjoy things.
People have to work long enough as it is to collect social security, increasing the retirement age by 5 years will only force them to work longer, and have less time to live out their golden years than they already do. This is a terrible idea! If anything the retirement age should be lowered not raised! The elderly deserve some time for themselves, they work long enough for it. So no, the retirement should most definitely not be increased by five years.