Evidences of the recognition of the elderly rights at the state level are found in the constitution of Bangladesh. However, the aged people are facing various unexpected sufferings, which are caused by poverty and health related complications. Considering the pitiful financial conditions of aged, the Government of Bangladesh launched a Social Safety Net Program (SSNP) namely Old Age Allowance Program (OAAP) from 1997. The aim of the present study is to assess the impact of OAAP on elderly welfare in the rural areas of Bangladesh. For this, data were collected from 344 (22% of total recipients) beneficiaries using simple random sampling technique from Godagari Upazilla of Rajshahi district, Bangladesh. Face-to-face interview was conducted with a structured questionnaire. Descriptive
analyses of data using various statistical tools such as frequency distribution, percentage distribution and chi-square test were made to trace out the impact of OAAP. It is found from the study that OAA helped aged persons to be placed in a better position, earn respect in the society and to their family members as well, though they are not satisfied with the amount of allowance. In other words, the small amount of OAA has limited economic impact on the aged people. But the social impact of this allowance is more significant. The aged people have accepted this program positively. It is high time to think and to take long-term phase by phase sustainable aging policies with the inclusion of this issue in the country’s five year planning.