Sad for would be pensioners
If the retirement age is raised to 62, the would be pensioners would only be able to collect their pension at 62. If it is raise to 65 or 67, then it can be expected that their pension will only start at the respective age. This may be cheaper to the employer as the expected lifespan after that could be much shorter than starting from 55. Some may not enjoy seeing their pension at all. Big savings.