Indeed. See the detailed breakdown of CRS points here:
http://www.cic.gc.ca/english/express-entry/grid-crs.asp
Right under "Points breakdown, section by section" is the chart that shows you how many points you get at each age. Notice how you lose 5 or 6 points per year starting from age 30, then 11 points per year after 40, until you get 0 points for age (down from the maximum of 110 in your 20s) at 45. I am struggling with this myself being over 40 with only 410 points, so I am trying to get OINP.