Ageing impacts on decision-making behaviour across a range of cognitive tasks and scenarios. Computational modelling has proved valuable in providing mechanistic interpretations of these age-related differences; however, the extent to which model parameter differences accurately reflect changes to the underlying neural computations remains unclear. Here, we report that age-related effects on neural signatures of decision formation are inconsistent with behavioural fits derived from a prominent accumulation-to-bound model. Most notably, model-predicted bound differences were absent neurophysiologically. However, constraining the model to match the decision-predictive elements of the brain signals provided more parsimonious fits to behaviour and generated predictions regarding the neural data that were empirically validated. These included a task-dependent slowing of evidence accumulation among older adults and reduced between-trial accumulation rate variability, which was linked to enhanced attentional engagement. Our findings highlight how combining neurophysiological measurements with computational modelling can yield unique insights into group differences in neural decision mechanisms.