Less risky returning in the role of whistle-blower after retirement (5)
I believe the answer is:
safer
'less risky' is the definition.
(I've seen this in another clue)
'returning in the role of whistle-blower after retirement' is the wordplay.
'returning in' says the letters should be written in reverse.
'the role of' becomes 'as' (I've seen this in other clues).
'whistle blower' becomes 'ref' (referees blow whistles).
'after retirement' is a reversal indicator.
'as' backwards is 'sa'.
'ref' back-to-front is 'fer'.
'sa'+'fer'='SAFER'
(Other definitions for safer that I've seen before include "Not so hairy" , "Fears (anag)" , "Less dangerous" , "Less hazardous" , "Less adventurous" .)