Processes in Microsoft 365 for setting up Office apps, redeeming product keys, and activating licenses.
Hello, thank you for reaching out to Microsoft Q&A.
Yes, you will need to create a personal Microsoft account to use Office 365 independently of your university affiliation.
Since you have retired from the organization, your university email address and its associated license may be revoked or reassigned at any time. Continuing to use an organization-managed account after separation is not recommended, as access can be terminated without notice from their side.
I recommend canceling the Office 365 purchase made under your university account and creating a new personal Microsoft account using a private email address. Once that is done, you can repurchase Microsoft 365 Personal and link it to your new account.
Create a new Personal Outlook email account -
Please note that your university email address is intended only for use during active employment or enrollment. Now that you have retired, access to that account may be restricted or removed by the IT administrator at any point. Before transitioning, make sure to back up or migrate any important emails and documents to your personal account. You should also sign out of, or remove, the university account from your Windows device to avoid access issues in the future.