The most common and most likely answer to this crossword clue is the 5 letter word INCAN
I've seen this crossword clue in The Times
I
N
C
A
N
More clues leading to the result INCAN
- Where you might find prisoner from Peru, once?
- Like some old Peruvians ready to broadcast?
- Native of South America once imprisoned?
- Apparently a 25 of ancient people
- Old American takes lid off empty container
- How spam comes from South America in the past
- Like beer, often for old people
- Popular preserve of old people
- Native American furious to lose ancestry
- Old American beans preserved thus?
Buddy explains!

The straight part
We know that "old people" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case old people = incan.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.