From the manual:
The Sims 3 also features an option called Story Progression. This feature helps keep your town alive and thriving. With Story Progression, your Sims’ neighbors lives progress normally. Neighbors may move away, new ones will move in, friends get promotions, neighbors have children, and eventually even die. Basically, life goes on! This feature helps to keep the neighborhood balanced.
It would simply be too difficult for the game let some people in the town age and some not while it's trying to calculate EVERYTHING all at once.