The world’s population is getting older, which is the most important new demographic trend taking place in the globe now. The percentage of the global population that was aged 60 or older increased from 205 million in 1950 (which represented 8.2 percent of the total population) to 606 million in 2000 (which represented 10 percent of the total population). It is anticipated that by the year 2050, there will be a total population of two billion people who are 60 years old or over.