The present chapter provides a review of the literature addressing changes in memory performance in older adults (often retired individuals with an age between 60 and 80 years), compared to younger adults (often college students around age 20). While it is well-established that memory performance declines in older adults (e.g., Kausler, 1994; Ryan, 1992), it is now clear that not all aspects of memory are impaired (e.g., Balota & Duchek, 1988; Burke & Light, 1981; Craik, 1983; Schacter, Kihlstrom, Kaszniak & (...) Valdiserri, 1993; Shimamura, 1989). Dissociations across age groups with respect to impairments in different memory types/processes have provided (a) insights into the influence of aging on neuropsychological underpinnings of memory, and (b) leverage for memory theorists to develop a better understanding of normal memory functioning. This chapter involves three sections: First, we provide a summary of selected empirical findings that document the nature of age-related changes across a wide set of memory tasks. Although it is beyond the scope of the present chapter to review the rich literature concerning memory and aging, this section will acquaint the reader with examples of paradigms used to study distinct aspects of memory and the conclusions that researchers have reached regarding the influence of age on each memory type/process. Second, we discuss the major theoretical perspectives that have been proposed as explanatory constructs for these age-related memory deficits. Finally, we provide an overview of recent developments that shed some light on understanding the possible neurological underpinnings of aging on memory functioning. (shrink)