Police issued a description of a suspect following the incident in Newhame Road on 17 December.
Officers said the pensioner was left shaken by the incident, but was uninjured.
A report has been submitted to the procurator fiscal and the man is expected to appear at Forfar Sheriff Court on Friday.
A 57-year-old man has been charged in connection with the alleged robbery of an 88-year-old woman in Montrose.