This study aimed to demonstrate a significant distinction between basic psychological need frustration (BPNF) and satisfaction (BPNS) in older people. To that end, two studies were conducted. Study 1a tested the score validity and reliability of the French psychological need frustration scale for older adults (PNFS-OA) to measure BPNF for autonomy, competence and relatedness. This study involved 476 older French adults (234 women and 242 men; Mage = 75.99 years, SD = 11.7, age range = 60–98 years) and the results support the factorial validity and reliability of the PNFS-OA scores. Study 1b then examined the relationships between BPNF and a range of selected outcomes (i.e., personal growth, purpose in life, vitality, self-esteem, positive and negative affective states and depressive symptoms) controlling for BPNS. This second study involved 154 older French adults living at home (86 women and 68 men; Mage = 73.36, SD = 7.07, age range: 65–95 years). Results showed that BPNF not only made a significant contribution to the prediction of depressive symptoms (indicator of ill-being) over and above BPNS but also contributed significantly to the prediction of some indicators of well-being over and above BPNS (i.e., purpose in life and self-esteem). These results question the role of the participants’ socio-contextual environment, which would not only be a supportive but also a controlling environment for the BPN. As a whole, BPNS and BPNF provide an interesting bridge connecting both positive and pathological aspects of ageing.