Strip it yearly, suppressing compassion (4)
I believe the answer is:
pity
'compassion' is the definition.
(I know that compassion can be written as pity)
'strip it yearly suppressing' is the wordplay.
'suppressing' indicates the answer is hidden within the clue (the answer is suppressed or covered by the clue).
'PITY' is hidden in the letters of 'strip it yearly'.
(Other definitions for pity that I've seen before include "Feeling of sorrow for another's pain" , "Cause for regret" , "Feel sorrow for" , "Have sympathetic feelings toward" , "true compassion?" .)