I did this last year. Your work permit has to be cancelled by your employer before immigration will issue an extension based on retirement. You need proof of permit cancelation. You need your 800,000 baht in the bank for a full three months prior to application. To apply you need bank statements for the three months stamped by the bank, a letter from the bank dated the day of application confirming bank balance and a copy of your bank book showing balance. Once your work permit is cancelled you have a short period of time to change your visa extension. I did everything 1 week prior to visa extension expiry.