What does it mean if the Queen were to retire?

Dive Bar Casanova

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Probably pure balderdash in the US news.
Is it abdicating or something else?
What happens next?
 
I obviously don't read the tabloid papers - yes it was reported in the Sun here & Mirror. But this statement has been released (allegedly):

No, Queen Elizabeth doesn't have any plans to retire.

In response to renewed speculation that Her Majesty, 93, is planning on retiring in the next several years to make way for her son, Prince Charles, a spokesperson for the Prince of Wales' office released a rare statement shooting down the rumors.

"There are no plans for any change in arrangements at the age of 95 -- or any other age,” the spokesman declared in a statement released to People.

The new round of murmurs that Elizabeth will retire soon were prompted by the recent announcement that Prince Andrew would be indefinitely stepping away from official royal duties in the aftermath of his widely-panned interview with the BBC, during which he addressed his ties with Jeffrey Epstein.
 
The Queen will not retire, she has made that clear before. She is in the process of reducing her engagements, passing on her patronages to her son and grandsons and letting younger Royals take on some of the tasks she would have usually done, such as long-haul overseas visits. There may come a time when she is too frail either physically or mentally to fulfill her constitutional duties, but there are proceedures and precidents in place to cover that.
 
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