superannuate

Concise Oxford English Dictionary © 2008 Oxford University Press:
superannuate /ˌsuːpərˈanjʊeɪt/

▶verb

• 1 retire with a pension.

  ■ (as adj. superannuated) belonging to a superannuation scheme.

• 2 (as adj. superannuated) too old or outdated to be effective or useful.

– derivatives
superannuable adjective.

– origin C17: from med. L. superannuatus, from L. super- ‘over’ + annus ‘year’.