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elderly (adj.)

"bordering on old age, somewhat old," 1610s, from elder + -ly (1). Now, generally, "old." Old English ealdorlic meant "chief, princely, excellent, authentic." Old English also had related eldernliche "of old time," literally "forefatherly."

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Definitions of elderly from WordNet
1
elderly (n.)
people who are old collectively;
Synonyms: aged
2
elderly (adj.)
advanced in years; (`aged' is pronounced as two syllables);
elderly residents could remember the construction of the first skyscraper
Synonyms: aged / older / senior
From wordnet.princeton.edu