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These countries will have a vast number of experienced and productive older workers who, as things stand, will be driven from the workforce upon reaching the age of sixty-five by the widespread practice of requiring workers to retire at that age.

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driven from the workforce upon reaching the age of sixty-five

These people will no longer be able to work when they reach 65.

by the widespread practice of requiring workers to retire at that age

A practice is a standard way of doing things

requiring means telling somebody that they must do something, for example retire when they reach 65.

widespread means that a lot of companies follow this practice.

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