The old have time, nevertheless (3)
I believe the answer is:
yet
'nevertheless' is the definition.
(thesaurus)
'the old have time' is the wordplay.
'the old' becomes 'ye'.
'have' is a charade indicator (letters next to each other).
'time' becomes 't'.
'ye'+'t'='YET'
(Other definitions for yet that I've seen before include "in spite of that" , "Still; nevertheless" , "Still; however" , "Up to the present time" , "Thus far" .)