I'd agree with madf that something needs to be done. Just not clear how this proposal even begins to cut the mustard.
Why does 'something have to be done'? You're making the common mistake of looking at gross costs, not net costs. Healthy people live longer. Unfortunately virtually all those extra years are pensionable years.
-Healthy people are a greater pension burden but do not wish to have longer working lives than unhealthy people
-Healthy people simply take longer to get ill. They have a similar chance of dying of cancer as their unhalthy counterparts
-Healthy people have a much greater chance of contracting chronic geriatric illnsses which are expensive to treat.
Healthy people are the reason that the pension system in this country has collapsed. . Longevity is is great for the individual but dreadful for society as a whole. This is the harsh economic reality that people do not want to face.
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