Many changes occur as people enter old age (e.g., declining productivity), and these changes may at times decrease quality of life. Do some people maintain high subjective quality of life despite these changes? This study investigated the influence of psychological acceptance (PA) on quality of life in a sample of 187 elderly from a home nursing service, a retirement village and various community groups. Average age was 78 years old with a range from 65 to 96. We administered a measure of psychological acceptance and The Comprehensive Quality of Life Scale (COMQol). As hypothesised, people higher in PA also had higher quality of life in the areas of health, safety, community participation and emotional well-being. In addition, individuals high in PA had less adverse psychological reactions to decreasing productivity. Interventions that increase PA may lead to improved quality of life and resilience amongst the elderly.