Demographic changes are extensive problem in today's society and one of the biggest social and economic challenges for Europe in the 21st century. Slovenia, in addition to the rapid aging of the population, is also facing the problem of high level of risk of poverty and social exclusion of older people. The purpose of the final exam thesis is to show, based on the performed analysis, the main differences between Slovenia and Austria in the situation of poverty and social exclusion of older people. I have found that in Slovenia the difference between the average net salary and the average net pension is increasing from year to year; that among the risk factors for the material and social vulnerability of older people, the key role have the available income, health status and employment history; that in Slovenia, in terms of poverty and social exclusion, by far the most vulnerable are low-educated and single older women. The analysis also shows that we belong to a group of European countries with above-average poverty rates among the older population, while Austria is even less than one percent below the European average. In Slovenia, the older population according to the rate of poverty and social exclusion is at the top, and in Austria at the bottom. The two countries differ also in the level of poverty regarding the housing status, household type and level of education of older people. The situation in Slovenia requires changes in the pension and disability insurance, development of strategies for more effective intergenerational cooperation, change in the attitude of younger generations to older people, taking greater account of their role in the society and better access to health care.