The second half of the twentieth century was a time of dynamic growth in the number of older people in society. The history of mankind shows that its individual representatives grow old, but this problem does not concern the population as a whole. Classic life cycle was assigned a unit, when the age structure of the population was not subject to major changes. The aim of this study is to examine the effects of aging in term s of socio-economic development, which is a consequence of changes in the demographic structure, which in the future may have a negative impact on the economic situation of the country. Extending the life expectancy has an impact on the quality of life of society. This is reflected in the model of consumption, investment, savings and determines the overall health of the labor market and the model of budget expenditures.