Retiree's income (7)
I believe the answer is:
pension
'retiree's income' is the definition.
(I've seen this in another clue)
This is all the clue.
(Other definitions for pension that I've seen before include "Nice little hotel" , "residence abroad" , "Bed and breakfast or small hotel in France" , "Retirement allowance" , "Payment to traitor" .)