The magazine is the result of a partnership between Conde Nast's contract publishing division and the South African over-50s brand Second-lifestyle, owned by the entrepreneur Ken Burgess.
The magazine's launch in September will be the brand's UK debut.
Priced at £3.95, the title will have an initial print run of 100,000 and will cover areas including health, travel and property. If it is a success in the UK, then it is likely to be rolled out worldwide.
2 Magazine will compete against titles such as Saga and Emap Esprit's 50-plus title, Yours.
The magazine is the first in a series of planned initiatives from Secondlifestyle, including an internet radio station, 2 radio, set to launch in 2005.
Burgess, the chairman of Secondlifestyle, said: "The significance and recognition that 50 is the new 21 is really taking hold. There is no disputing the facts: we are the richest, best educated, healthiest and most long-lived generation ever seen."