The world is graying and this process is accelerated and intensified by the decreasing birth rate and mortality rate, and increasing longevity of life. This change is going to affect the social and economics lives of human beings to a great extent. The demographic transition values from one region to another and from one country to another in the same region. Further, the impact of the aging process on the social and economic level of people too is going to be different for different countries depending on the social fabric, cultural values and the economic structure of the society.