老輩 is read as ろうはい (rouhai) and means the aged.
ろうはい
rouhai
しにせ
long-established shop
ろうば
old woman
ろうすい
senility
ろうがん
presbyopia
ろうきゅう
infirmity (due to old age)
ろうしょう
old pine tree
deterioration (due to age)
ろうじんふくし
welfare for the aged
ろうがんきょう
reading (farsighted) glasses
ろうじんせいはくないしょう
senile cataract
ろうじんしせつ
old folks' home
ろうじんほけんしせつ
rehabilitation facility for the elderly