This paper analyses the specifics of images of elderly and older people in cognition of 20 to 39 year-old males and females. The perception of older generation has been considered an important part of gerontological culture, because the content of those perceptions has an essential impact on intergenerational and interpersonal relationships. The psychological studies do not highlight the comparative features of the elderly and older people. This research uses 25 psychosemantic scales that describe five psychological areas: cognitive, emotional, regulatory, communicative and moral - spiritual. The scales are developed by the author based on the Kelly’s Method of Repertoir Grates. The results of empirical study show that adult people of 20 to 39 years of age differentiate the peculiarities of the elderly and older people well enough. The image of the elderly person in overall is positive and can be compared with that of the average adult person. The image of the older person, on the other hand, is negative and has more stereotypical features. The estimation of different aging features of old people are usually placed either at the negative side of the continuum or significantly lower than those in the representatives of other age groups when they are evaluated higher. This tendency displayed prominently during the estimation of will qualities. The adult people of 20 to 39 years old successfully distinguish the images of the child and old person which did not confirm the common stereotype “The old and the kid are the same”.