The fact that Canada's working population is aging and will continue to do so is no surprise to anyone. What is surprising though is what many of these aging workers are experiencing in the late years of their career: They continue to be the target of negative stereotypes which in turn, reinforce discrimination and marginalization practices. The present study was aimed at understanding the consequences of differential treatment based on age (measured by relative deprivation) from the theoretical perspective of psychological disengagement. A total of 117 Canadian civil servants over the age of 45 participated in this study. According to hypotheses, it was found that feelings of relative deprivation were associated with discounting which in turn led to a decrease in self-esteem. This chain of reactions generated instabilities, fluctuations in self-esteem and through this, questioned the protective role of psychological disengagement. It is only by devaluing their non-prestigious domain of activity that participants seemed to regain stability of their self-esteem. Theoretical and practical implications of these results are discussed. (Contains 3 tables, 3 figures, and 2 footnotes.)