Pope Benedict XVI First Pope to Retire Since 1415.

The Vatican has announced that Pope Benedict XVI will hang up his gown on February, 28, 2013. The 85-year-old Pope announced his decision at a meeting of The Vatican Cardinals citing age-related, health concerns as the reason for his resignation.

The Pope stated that being the ordained leader of over a billion Roman Catholics worldwide required, "both strength of mind and body," qualities he felt he did not possess anymore.

The Pope revealed his position in a statement,

"After having repeatedly examined my conscience before God, I have come to the certainty that my strengths due to an advanced age are no longer suited to an adequate exercise of the Petrine ministry," he told the cardinals. "I am well aware that this ministry, due to its essential spiritual nature, must be carried out not only by words and deeds but no less with prayer and suffering.

"However, in today's world, subject to so many rapid changes and shaken by questions of deep relevance for the life of faith, in order to govern the barque of St. Peter and proclaim the Gospel, both strength of mind and body are necessary — strengths which in the last few months, has deteriorated in me to the extent that I have had to recognize my incapacity to adequately fulfill the ministry entrusted to me."

The last Pope to resign was Pope Gregory XII, who stepped down in 1415 in a deal to end the Great Western Schism among competing papal claimants.

The Vatican is expected to begin proceedings immediately which will see Pope Benedict XVI replaced by the end of March 2013.

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