The aim of the article is to study conditions for preserving elderly citizens' human capital in labor activities. The authors of the article define the human capital of elderly citizens as a certain type of capital with its structure and specific components. They clarify the composition of entities involved in various processes aimed at changing characteristics of the human capital. They prove that an individual possesses the broadest powers to participate in the formation, preservation, development, investment, withdrawal of this type of capital from labor activity; however, other entities (state bodies, employers, higher education institutions, employment centers) also have certain rights to participate in specific processes changing characteristics of the human capital. Relying on the analysis of foreign and Russian studies and statistical data, the authors establish a connection between the activity of the processes and the influence of demographic, legal, economic, sociocultural, and organizational factors. In addition, the authors have developed a sociological toolkit (a questionnaire for interviewing elderly workers) used for an empirical research. The questionnaire has allowed obtaining results on how elderly workers assess their professional potential, as well as identifying factors affecting the decision to continue working.