Memory for affective events plays an important role in determining people's behavior and well-being. Its determinants are far from being completely understood. We investigated how recognition memory for affective pictures depends on pictures' motivational significance (valence and arousal), complexity (figure-ground compositions vs. scenes), and social content (pictures with people vs. without people) and on observers' age and gender. Younger, middle-aged, and older adults viewed 84 pictures depicting real-life situations. After a break, the participants viewed 72 pictures, half of which had been viewed previously and half of which were novel, and were asked to endorse whether each picture was novel or had been presented previously. Hits, false alarms, and overall performance (discrimination accuracy) were our dependent variables. The main findings were that, across participants, recognition memory was better for unpleasant than pleasant pictures and for pictures depicting people than pictures without people. Low-arousal pictures were more accurately recognized than high-arousal pictures, and this effect was significantly larger among middle-aged and older adults than younger adults. Recognition memory worsened across adulthood, and this decline was steeper among men than women. Middle-aged and older women outperformed their male counterparts. This study suggests that how well we are able to successfully discriminate previously seen pictorial stimuli from novel stimuli depends on several pictures' properties related to their motivational significance and content, and on observer's age and gender.