No. If you choose to hold a licence to practise, the GMC requires you to revalidate in the same way as every other doctor by participating in annual appraisal and maintaining a portfolio of supporting information. 

If you are retired from clinical practice, it may be that you relinquish your licence to practise but maintain your registration with the GMC. This means that you do not have to revalidate, and it will show that you remain in good standing with the GMC. This will depend on whether you undertake any activity post-retirement which requires a licence to practise (e.g. if you work directly with patients or if your employer requires it).

You may also find the GMC's 'Revalidation Frequently Asked Questions for Retired Doctors and those preparing to Retire' useful.