The linguists, from the German University of Tübingen, publish their findings in the journal Topics in Cognitive Science (Ramscar et al., 2014).
While accepting that physiological diseases of old age clearly exist, they say that the usual cognitive changes associated with age are exactly what you'd expect as the brain gathers more experience.
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The authors conclude by saying:
"...population aging is seen as a problem because of the fear that older adults will be a burden on society; what is more likely is that the myth of cognitive decline is leading to an absurd waste of human potential and human capital. It thus seems likely that an informed understanding of the cognitive costs and benefits of aging will benefit all society, not just its older members." (Ramscar et al., 2014).
You can read the whole article at:
http://www.sott.net/article/272469-The-myth-of-cognitive-decline-Elderly-know-more-and-use-it-better