Yes. Other countries have done it e.g. Germany.
When 65 was set as the retirement age the length of the retirement, particularly for working class men, was incredibly short as they mostly died by their late 60s. Now life expectancy at 65 is about 20 years. Today's 40 year olds can expect to live into their late 80s and even 90s. Retirement was not invented so that people could have 30 or more years of extended leisure was it? If present trends continue about 1/3 of all the able bodied adults will be retired.
www.kingsfund.org.uk/time-to-think-differently/trends/demography/life-expectancy#healthy
Humza Yusaf's resignation speech