The 34-year-old won 109 caps for Scotland and scored 809 points in the process, both record-breaking figures.
The former Edinburgh and Gloucester star also played at four rugby World Cups and picked up his MBE for services to sport, even if he questioned his suitability for the award.
"You feel a wee bit guilty, you don't know if you deserve it or not," he said.
"You set goals as a rugby player, and you reach goals, whether it be club level, or international, and you think that's it.
"You never set out looking to achieve anything like this, so I suppose the big thing is to try to enjoy it and remember it for the rest of your life."
Paterson is now a coach and ambassador for Scottish rugby after playing his final game in May.
Gilbert has released a new line of rugby cleats. The Gilbert Virtuo 8S is part of the exciting new product. Check it out.
The entire All Blacks apparel line has been updated for 2013/14. Check out the New Zealand All Blacks polo.
The Nike Tiempo is a solid rugby cleat and one of few styles still made from full-grain natural leather.
The Gilbert Blitz 8S rugby cleat is a great cleat at a great price of $69.99. Get a new pair of cleats today.
A cool looking all black rugby cleat with the high performance adidas is known for. Get in the Gear!
Wear the crest of the British and Irish Lions on your t-shirt. A great look for the summer.
The All Blacks Performance t-shirt is black with hints of blue from the training jersey. Very Cool.
The New Zealand All Blacks training jersey for 2013/14. Get in the Gear!
The USA Rugby Pro Alternate rugby jersey is perfect for any fan of the Eagles. Get yours to wear during the summer Test matches.
The NEW All Blacks 2013/14 jersey has arrived at World Rugby Shop. Dare to wear the colors of the All Blacks.