Aging should be viewed as a natural part of the life course and population aging as a transition not a crisis. First part examines population aging causes. Second part draws attention to uncertainty of the demographic projections. Third part analyses dependency ratio in international perspective. Forth part is concerned with health care spending. Fifth part outlines the public policy reactions. Sixth part deals with pension reform. Seventh part asks a question whether population aging is burden or blessing. According to the paper, older people are active, productive and will continue to play a valuable role in the future.