Reserve Bank of Australia Annual Report – 1993 Financial Statements Special Voluntary Redundancy/Retirement Payments

Note 11 Special Voluntary Redundancy/Retirement Payments

The Bank's expenses in 1992/93 include $2.7 million in payments made to, or on behalf of, staff who accepted special voluntary redundancy/retirement offers. Corresponding payments in 1991/92 totalled $18.8 million. Staff leaving the Bank in 1992/93 under these arrangements numbered 44 (224 in 1991/92).