In this America, Social Security is depleted, broken, and destroyed. The Social Security Reclamation Act is enacted to restore monies wasted for decades on the entitled elderly. Government assistance is terminated at age 65. Personal assets are seized and citizenships are revoked, thereby changing their status to that of "Pensioner".
In this America, Pensioners are not protected by the government or the police. Pensioners become sexually exploited, "bum"-fight-syled gladiators and are hunted at will for the amusement of the young. Most of the elderly are dead within weeks, so Pensioner Ichabod had better get himself some street smarts and ninja skills real quick.
In this America, growing old is some murderous shit.