Conventional wisdom holds that ageing populations are unfavourable for economic growth because of their potential impacts on labour supply, productivity, and savings. When this is coupled with the increased spending pressures because of pension requirements and health care, ageing societies are likely to face serious fiscal problems. This report addresses these concerns in the unique context of Eastern Europe and the former Soviet Union where many countries are ageing rapidly without the economic resources and institutional capacity of other ageing societies in Western Europe and Japan.