"The population of the EU is projected to reach 517m in 2060. Nearly one third of the citizens will then be 65 or over. The age profile of the EU is expected to change dramatically in the coming decades, according to the EU's latest ageing report that was published on 15 May, 2012. The EU population will be slightly higher in 2060. At the same time it will be much older. While longer lives are a major achievement of European societies, the ageing of the population also poses significant challenges for their economies and welfare systems." (Quoted from article)