During a press conference in Tel Aviv, Eitan said younger elements would soon join the movement.
"We were under great pressure to return, despite the failure," he said. "We conducted polls and not only is there a place for the pensioners but a special place in the modern age. Children being born now will live to be a 100."
The party leader, 83, rejected the claim he failed as pensioner affairs minister. "I did the most serious thing for the seasoned citizens – create a ministry for them which to my delight still maintains operations."
Eitan presented retired Brigadier-General Efraim Lapid, former IDF spokesman and Army Radio commander as a senior member of the party. Actress Irit Frank also joined the movement and said Wednesday, "Let us let the seniors teach the young."
Party press conference (Photo: Ofer Amram)
The Pensioners Party surprised the country when it landed as many as seven mandates in the 2006 elections, but was mainly remembered for the countless scandals it provided during its Knesset stint.
The party eventually disbanded after bitter inner conflicts leaving their voters profoundly disappointed.
After their defeat in the 2009 elections Eitan said, "We were expected to pose an example for the younger public and unfortunately were disappointing on that count.
"The Israeli public got the sense we didn’t do anything and were not worth anything because of one group which acted out of narrow interests as well as the media which loves scoops and sensations."