Lowered the moral character of Daphne's missing content when retired? (7)

I haven't cracked this one yet — but the brilliant team at Fifteensquared have:

Lowered the moral character of Daphne’s missing content when retired? D <aphn> E (“missing content” means all but first and last letters are dropped) + [AS (=when, as conjunction) in BED (“retired”, i.e. in bed!)]