The present paper is based on the analysis of data from secondary sources, viz. existing literature and reports with the aim to understand the vulnerability of the aged population in major states of India with reference to Assam in terms of old age dependency, health status, economic support, living arrangements of the aged, etc. and also the existing public provisions for financial security of the aged in terms of pension as well as non-pension arrangements presently available in India for the destitute elderly and retiring employees. The paper finds that India has failed to respond adequately and effectively to the demographic changes particularly in the backdrop of economic reforms, especially in terms of health and financial security requirements of the aged. Such poor response to the security requirements (especially financial) of the aged population is a big threat of exclusion of this vulnerable group from the market and eventually from the society.