I think that with increased life expectancy and changing work/life balance, there's no reason to have to retire compulsorily at 65 years of age. However, on the other hand, many people will not be able to work up to 2 years shy of their 70th birthdays.
There's a looming crisis where income tax revenue derived from the younger working generation won't be able to adequately support State pensions of the Irish baby boomers who were born in the 1970s - my generation
. This new provision as I understand it applies from 2028 onwards - that means that pretty much everyone born after 1960 gets shafted by this.