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Both my parents are 60+, my father is in his mid seventies, and they are as productive as ever.

Congratulations to them. My dad has worked manual labour since he left school aged 15 - first as a shipbuilder and then in the oil industry. My mum retired from teaching a year ago then developed lymphoma.

Both of these people are in their 60s and have earned their retirement - we need not extract any more "productivity" from them. Leave them be.

We don't need to extract more productivity, sure, but it would lead to decreased medical costs.

So instead we should extract a few more percent of productivity out of everybody who is pre-retirement age for every additional year of life expectancy?

The alternative seems to be keeping the young under employed

Are you referring to the "lump of labor" fallacy?

https://www.stlouisfed.org/open-vault/2021/january/refuting-...

No, that refers to job openings across industries, specifically mentions agriculture jobs declining as other industries grow. Look at the median age of say politicians or tenured professors to see what I'm talking about.

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