In addition, the new policy will incrementally raise the retirement age up to 65 by 2045 for both genders.

"Besides raising the retirement age, it would help to give people the option to choose to retire or not when their time comes," Li said. "There was no concept of retirement a hundred years ago, people worked until they couldn't."

Ory said technology can help make the workplace easier for older workers. Being productive is also healthier.

"You don't want someone from age 60 to 100 to be merely recipients of services. Whether they stay in the workforce, contribute to the community as volunteers or take care of grandkids, make sure older people are valued," Ory said.

Li suggests that the Chinese government, besides raising the retirement age to make up for shortfalls in social security funds, should also consider policies such as lowering corporate tax rates for employing older people to help the aged stay on jobs if they want.

In the US, it's a reality that if older people lose their jobs, they have a harder time getting a new job.

"We need policies to help old people retool their skills so that they stay current and relevant to the workplace. Both old and young generations need to be technology competent," said Ory.

How to care for the old is another challenge societies have to face. In the US, the aged were first taken care of by families, then primarily by institutions, and now the trend is toward a more innovative community care, said Ory.

"Old people don't want to be taken out of communities and put in old-people-only communities. Have residences for old people next to schools or daycare, that way they can interact with the younger population, and the young generation gets the benefit of their wisdom and attention," Ory said.

According to Ory, the movement 880 Cities designs communities, recreational areas and streets safe for 8- and 80-year-olds. In Utah, the government let old people go to college for free to keep them stimulated.

"There is also what is called an active living community, like Mueller in Austin, Texas. The old Austin airport is redesigned to be more activity friendly, economically integrated and age integrated. They design a community for all," Ory said.

The new model is to take what is good about agricultural society and modern society and merge the two together. "We want the idea of a sense of community and society," Ory said.

China is also coming up with innovative ways of dealing with taking care of aged people. A retirement home in Hangzhou launched a program in late 2017 to allow young singles to have living quarters at the retirement facility for 300 RMB a month.

In exchange, each young resident has to spend at least 20 hours a week interacting with the seniors. More than a year later, the program was reported as being a success.

Still, in many countries and places, families still bear most of the burden of caring for the old.

"Society needs to value people who take care of the older generation — make the workplace flexible and easier for them, don't expect them to work full time or even overtime, then come home spending hours to take care of the old," Ory suggested.