Financial stability of an economy is significantly influenced by the evolution of the household saving behavior. The financial turmoil that started in 2007 and the severity of the recession that followed highlight the importance of household financial stability as one of the key factors affecting economic growth. Household saving behavior is determined by a complex of economic, social, demographic and cultural factors. The deeper understanding of the influence of demographic determinants on household saving is essential for predicting future trends in household saving behavior in response to the forecasted population ageing. This paper uses the household budget survey (HBS) conducted in 2011 by the Central Statistical Office to shed light on the demographics effects on the household saving behavior in one of the Central and Eastern European countries, i.e. Poland. Unit records from 37,375 Polish households are available. With micro data, it is possible to account for various household characteristics that are not available to researchers undertaking macroeconomic analyses, but are important for explaining differences in saving decisions. The results of the One-way Analysis of Variance (ANOVA) support the view that age constitutes a significant determinant of household saving behavior. It can also be seen that the households of retired persons exhibit positive and high saving rates, rather than dissave, as suggested by the original LCH. Their saving propensity is significantly higher than that of younger households.