We assess change in metastability to characterize age-effects on the dynamic repertoire of the functional networks at rest. Resting state fMRI signals from each subject (N=48) have been used and metastability is evaluated as the standard deviation of mean phase synchrony of BOLD signals across whole-brain as well as across known resting state networks. The results suggest that significant whole-brain metastability changes occur between middle to old age. We also demonstrate that static time-averaged FC largely undermines age-effects on the interaction between functional networks. Discriminant Function Analysis reveals existence of two different patterns of change in metastability, which maximally discriminates between two different processes of maturation and ageing. © 2017 IEEE.