B1[I]to leave your job or stop working because of old age or ill health: Since retiring from the company, she has done voluntary work for a charity.He is due to retire as chief executive next year.Retiring and resigning from work›[I]to stop taking part in a race or competition because of illness or injury: She retired from the competition after pulling a leg muscle.Scoring, winning and losing in sportWinning and defeatingLosing and being defeated›[Toften passive]If an employer retires an employee, they make that person leave their job, usually at a time when they are near to the age at which they would normally stop working, or because they are ill: Following the merger, he was retired with a generous pension.Firing staff and being fired