In most developed societies, adults are declared to be "old" when they reach the ages of 60-65, and secure their pension entitlement. Some governments offer Old age pensions, and redeemable Retirement Savings Plans.
Retirement is a typical lifestyle embraced by advanced adults, marking the end of a lifetime of work.
In the late 20th century and early 21st century, advances in nutrition and health care have extended the period of good health as well as extending the overall life expectancy.
Pensions provision relied upon life expectancy at retirement being short: this change has led to the pensions crisis.
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