The safe answer is any electrical panel that is 25 years old needs to be changed.
The primary reason is Electrical Panels DO NOT last forever despite what someone will tell you. Electrical Panel manufactures design the panels and circuit breakers at specific tolerances to “trip” or turn off an electrical circuit that is overloaded. Over time of continuous use electrical panels and circuit breakers will lose the designed factory tolerances and will not handle the electrical loads intended.
We have seen older panels not respond to circuit overloads and we have also seen electrical panels trip prematurely to loads much lower than designed. It is inevitable older electrical panels have been exposed to numerous electrical surges which further reduce their ability to safely respond as intended.
Electrical panels are one of the most neglected SAFETY Devices protecting your family and home. It is strongly recommended to perform an annual test of your electrical system. This is one of the most overlooked “Safety Checks” and should be part of every home’s annual residential maintenance just the same as you do for your heating and cooling system.
If your home is 25 years or older you need to have a licensed and insured electrician at the very least perform a full evaluation and testing of your electrical system. The cost of replacing your Electrical Panel and bringing it up to the current National Electrical Codes is far less than the result of an electrical fire.