The global issue of aging is currently becoming more and more prevalent. In Bangladesh, aging is also a significant issue since social development has made the elderly more vulnerable. Realizing the importance of the issue, the National Policy for Older Persons 2013 was developed to ensure the well-being of the elderly population. Nevertheless, it was unclear if the commitments and policy statements really addressed the well-being of the elderly. The goal of this review research is to: (1) evaluate the National Policy for Older Persons 2013 in terms of its applicability and relevance to the needs of Bangladesh’s senior citizens; (2) identify the strengths and weaknesses of the policy and (3) provide strategic directions for the future so that policy interventions can become more responsive to elderly needs. The paper argues that in designing policy, the Ministry of Social Welfare should recognize that the well-being of the elderly population has multiple dimensions, and that the ministry is required to work closely with other relevant ministries. It should be envisioned that improvements in social development indicators will coincide with improvements in the well-being of the elderly and vice versa. The policy should prioritize a life cycle approach, given that many of the major morbidities that contribute to the aging crisis are not primarily social, but rather result from underlying nutritional conditions and vulnerabilities that older adults carry into old age and then exacerbate.