Dictionaries define retire as "to leave your job or stop working because of old age."
Can I rephrase it like below by saying "leaving a workplace forever"?
People leave their premises permanently when they are old.
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There are three problems with using leave their premises.
Premises are properties of the business, so only businessowners leave their premises when they retire.
Premises includes all the contiguous owned locations, interior and exterior, most of which will be beyond the workplace of a particular individual.
Today more than ever before it is quite possible to be employed by a firm without ever setting foot on its premises.
When you retire what you are leaving is not a place but a role and an activity.