Measuring instrument set for retirement around end of June (14)

I believe the answer is:

interferometer

'measuring instrument' is the definition.
(interferometer is a kind of measuring instrument)

'set for retirement around end of june' is the wordplay.
'set' indicates anagramming the letters (instruction to set the letters).
'around end of' says to take the final letters.
The last letter of 'june' is 'e'.
'for'+'retirement'+'e'='forretiremente'
'forretiremente' is an anagram of 'INTERFEROMETER'.

I've seen this clue in The Telegraph.

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