The former fellow's probably retired (3,3)

I believe the answer is:

old man

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'the former fellow's probably retired' is the definition.
I can't judge whether this defines the answer.

'the former fellow's' is the wordplay.
'the former' becomes 'old' (both can mean previous).
'fellow' becomes 'man' (fellow can mean a man).
'old'+'man'='OLD MAN'

Can you help me to learn more?

(Other definitions for old man that I've seen before include "Husband (inf)" , "Informal name for father, husband or ship's captain" , "Aged male as informal father" , "Senior citizen" , "Master?" .)

I've seen this clue in the Evening Standard.

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