Rising life expectancy and declining birthrate are globally resulting in an aging population. In particular, the western world will be particularly affected by the aging of its population during the next years. According to a report issued by Eurostat – the Statistical Office of the European Communities, in the European Union (EU) the share of population aged 65 years and over is projected to rise from 17.1% in 2008 to 30.0% in 2060, and those aged 80 years and over is projected to rise from 4.4% to 12.1% over the same period (Giannakouris 2008).