Slimboyfat: As I understand it they don't teach the anointed are the "generation" any more. That was briefly the teaching for a couple of years, but was dumped in favour of an "overlapping generation" of the general population from 1914 stretching God knows how long into the future.
The exact wording from the Society was:
"John Barr made clear that the gathering would not continue indefinitely. He referred to Matthew 24:34, which says: "This generation will by no means pass away until all these things occur." He twice read the comment: "Jesus evidently meant that the lives of the anointed ones who were on hand when the sign began to be evident in 1914 would overlap with the lives of the other anointed ones who would see the start of the great tribulation." We do not know the exact length of "this generation," but it includes these two groups whose lives overlap. Even though the anointed vary in age, those in the two groups constituting the generation are contemporaries during the part of the last days. How comforting it is to know that the younger anointed contemporaries of those older anointed ones who discerned the sign when it became evident beginning in 1914 will not die off before the great tribulation starts!"
Although they will no doubt move the goalposts when time requires, it's quite clear that what they are saying is: The current members of the Governing Body are not going to die off before the end.