I don't think the passes can be used before 9.30 and there are also restrictions on some routes.
However, the fact that some people carry on working after the age of 60 is because they have no choice.
Anyway if you are rich, the last thing you do is to travel by public trasport. It is a facility useful for those ones who have not got enough to afford such an expensive system, like the British Trasport system.
Considering that ministers travel free at our expenses (and use public money for their own personal needs) aren't the bus/train passes costs insignificant compared to the money wasted by the public administration?