There are multiple definitions - click on the translation that matches your context.

pensjonere seg

verb

full

retire

verb

Definitions of retire

English

(of a judge or a jury) to go away from the main courtroom for a period of time

Magistrates have retired to consider their verdict.

English

to come to the end of an elected term of office

Mr Bownes retired from the council last year.

English

to make an employee stop working permanently

The Age Regulations permitted employers to retire their employees at 65.