Abstract
The basic objective of the paper is to show that seniors (even in the age 70+) need not be treated just as a burden or as an object of social care and health care (which is, of course, important as well), but that they can be an important production factor in the traditional meaning of the concept in economic theory and can form a valuable component of an intellectual capital in a knowledge-based society. Objective reason of the growing interest in these issues is the aging of population during the last decades (especially in developed countries) and a greater availability of highly skilled seniors, that although meet the requirements to go retired, prefer to work longer and seek in the work (similarly as during their previous active years) a way of selfactualization and a source of vital energy. Keeping employed these seniors can be also economically effective for organizations.