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Abstract: The article deals with the psychological characteristics of elderly people belonging to the category of the third age. Nowadays one third of our population is composed of people of retirement age and the elderly ones, and their number is increasing every year. Some people of retirement age show destructive changes in personality, while the others demonstrate the integrity of their personality. The aim of our work is to determine the mental characteristics of elderly people, who have preserved integrity of their personality. The subject of our study is psychological characteristics. In our study we analyzed the changes that occur in the intellectual sphere of an elderly person, the impact of health condition on the quality of life of an elderly person, as well as the importance of meaning in the life of the elderly. Based on the analysis we have concluded that elderly people, who demonstrate the integrity of their person, belong to the category of the third age. The third age refers to the period of retirement and until the loss of legal capacity, during which there is a complete self-realization of the individual. We are more inclined to believe that the third age, in the first place associated with the ability to create a new personal identity, which is different from the identity of the typical elderly person. We have identified the factors that affect the formation of a new identity of the elderly: it is the ability to confront the negative stereotypes of old age, as well as adequate internal motivation that allows to take responsibility for the work accomplished. The result of our work is the definition of the psychological characteristics of people of the third age –it is the presence of life's meaning, the good state of health and positive self-esteem, as well as trained fluid and developed crystallized intelligence.