Paerson, a winner of 42 World Cup races and a remarkable 19 championship medals, has been below her best this season due to long-standing injuries.

"My career has been fantastic and I've achieved more than I could ever have dreamed of," said the 30-year-old.

"All the spectacular crashes and drawn-out injuries in the past few years have affected my ability to perform at the top.

"It's mainly cartilage damage in my left knee that is causing problems and I've reached a point in my life where both my body and mind are saying 'no'."

A great all-rounder, Paerson won six Olympic medals in a range of disciplines; gold in the slalom in Turin in 2006, silver in the giant slalom in Salt Lake City in 2002, as well as four bronzes in slalom, combined and downhill.

However, arguably the highlight of her career came at the 2007 World Championships in Are when she won a hat-trick of gold medals on home snow.