Aging has become a global issue as the number of senior citizens is growing day by day. This number has increased due to various reasons and above all, it is the availability of health care and birth control medicines. These are the reasons which are distorting the pyramid of age among the different groups of the people, which results in the shrinkage of the population at lower levels and expansion at upper levels. This transition of population is challenging the economy of the states and generating social problems in both developed and developing countries with varying levels. Pakistan is one of the most-affected countries and its ranked is 89 as the World Watch Index (2013) showed. It is the third highest old-age populated country with huge psycho-social and economic problems. There was a time when traditional structure of family was supportive to senior citizens, but changing values and socioeconomic dynamics have changed the vise versa. The statistics indicate that labor force is decreasing as compared to dependent class. The situation in Pakistan is not promising as the proper strategies and policies are not in practice to address the social adjustment and well-being of the senior citizens. To know the facts that how this situation is creating socioeconomic problems among the senior citizens and causing psycho-social problem after all, this study was designed to explore the accurate status and intensity of the problem in Pakistan, in general and in the Punjab province in particular. To explore the phenomenon, the study has applied different methods and tools to collect and analyze the data. The focus of the study was 212 (62) inmates from old homes, 50 senior citizens living with the family, 40 senior citizens, i.e.10 pensioners, 10 irregular physical laborers or daily wagers, 10 laborers in private industries on daily wage basis and 10 beggars/destitute persons. A preliminary study was conducted with experts and in the light of these results reduced from the expert’s opinion, the further four tools (structured interview schedule) were developed. The data were analyzed using manual and SPSS techniques as well. The results show that this is a very speedily spreading phenomenon in Pakistan but still neglected by the Government and private sectors. Major findings have shown that the senior citizens facing more economic problems in family life, but less social isolation as compared to the senior citizens living in old homes. Families are facing serious economic stress in taking care of senior citizens. The main reasons have been found were the lack of proper policy and its implementation by the government.