Topic summary
Paid off

Extracted from the Wikipedia article Ship commissioning.
Decommissioning
To decommission a ship is to terminate its career in service in the armed forces of a nation. Unlike wartime ship losses, in which a vessel lost to enemy action is said to be struck, decommissioning confers that the ship has reached the end of its economical service life and is being retired from a country's navy. Depending on the naval traditions of the country, a ceremony commemorating the decommissioning of the ship may take place, or the vessel may be removed administratively with minimal fanfare. The term "paid off" is alternatively used in British and Commonwealth contexts, originating in the age-of-sail practice of ending an officer's commission and paying crew wages once the ship completed its voyage.