History of the word “Retirement”:

‘In 1881 Otto von Bismarck, the conservative minister president of Prussia, presented a radical idea to the Reichstag: government-run financial support for older members of society. In other words, retirement ‘. This is the beginning which later had modifications of the ideologies and changes to support the retired workers by means of pension plan.

BJP trying to set age limit for their contestants : https://www.hindustantimes.com/lok-sabha-elections/bjp-veteran-shanta-kumar-questions-75-year-age-limit-for-contesting-polls/story-XmRqukxNlmGCbG0JMK5I6K.html

Age limit for public offices in India

As per the constitution of India there are minimum guidelines set for contesting the election as well as holding the post of a public office.

Description	Minimum Age Limit	Maximum Age  Limit	Article
Post of President of India / Vice – President / Governor	35 years	–	Article 58 (1) (b) / Article 66 (3)(b) / Article 157
Age limit for MP (Lok Sabha) / MLA	25 Years	–	Article 84(b) / Article 173(b)
Age limit for MP (Rajya Sabha) / MLC	30 years	–	Article 84(b) / Article 173(b)
Age Limit for Supreme Court Judge / Member of Union Commission	–	65 years	124(2) /316(2)
Age Limit for High Court Judge / Member of State Commission	–	62 years	Article 217(1) /316(2)

How it helps:

1. As young generation are back bone for development of any nation, it gives them opportunity to enter politics and hold public service positions which will make an impact
2. The generation gap which becomes a barrier in getting new ideas & thoughts can be harnessed. Currently most politicians follow conventional approach which can be a bottleneck
3. Scientifically, for majority of humans the energy, decision making, creativity & pressure handling fades as a person grows old for majority. This poses a challenge for some of the politicians during their old age
4. Seasoned politicians can always still serve the public and support the younger generation by guiding them working for their party but not holding a public office
5. There has been some research, that documented a decline in mental capabilities starting around age 60
6. Breaks the Dynasty politics where the elders hold the office until their next generation is ready

Challenges that Arise:

1. The leaders would have created trusted relationships with other leaders / foreign dignitaries over years which might poses a risk .
2. The senior leaders need to voluntarily guide young leaders at time of crisis and share their political career
3. The experience & knowledge they have acquired can never be replaced
4. Since Politicians are representatives of their constituents, the constituents can decide if they need to be in power even after the age rather that this being enacted as a Law
5.  To pass the legislation, still the existing politicians would have to vote for which is the biggest challenge

Conclusion:

When there is retirement age set for different positions in the pubic office including the judiciary, why not for the politicians. Although there are challenges with politicians retiring, they can still be advisor for the young leader & the party. The Age limit shall be debatable but fixing an Age limit for politicians to hold public office should be set for the benefit of the nation. During the analysis, it was also evident that almost majority of the countries do not have any retirement age for their politicians

References :
http://www.leadthecompetition.in/GK/Indian_Const-III.html
Rajya Sabha MP List : http://164.100.47.5/Newmembers/memage.aspx
Lok Sabha MP List : http://loksabhaph.nic.in/Members/MemberSearchByAge.aspx
https://www.theatlantic.com/business/archive/2014/10/how-retirement-was-invented/381802/