Call and ask your car insurance company for age vs. accident statistics. Sure driving isn't flying, but I'm sure that'll show degraded performance at 60 vs. 65.
Yep, it is all about money. Its about folks who used the Age 60 rule to advance their careers to a narrowbody or widebody, from the FE panel to the CA seat, and now are crying "age discrimination!!!!" when really they don't want to relinquish their seniority, vacation, and the top earning potential of their entire lives. If it was "love of the job" they'd become airport bums, flight instructors, work in a training center somewhere or go fly corp/frax/charter...but lets not kid ourselves here.
Its also about younger pilots (like myself) who see our movement to the left seat and/or the major airlines stagnated for 5 or more years whenever this comes to fruition. Its about being fair and maintaining the career expectations we all had knowing full well when we started in the airlines the mandatory retirement age was sixty.
If 121 pilots can fly until 65, then air traffic controllers should be able to work until at least 62. You should not have to be 35 years old to run for President. I shouldn't be able to be drafted at 18 but have to wait until 21 to buy a farkin' beer, and in the same vein I shouldn't be handed an M4 and sent into Kabul at 18 but can't buy a handgun until 21.
Its all age discrimination, age discrimination!!!