Reserve Bank of Australia Annual Report – 1994 Financial Statements Special Voluntary Redundancy/Retirement Payments

Note 11 Special Voluntary Redundancy/Retirement Payments

The Bank's expenses in 1993/94 include $9.8 million in payments made to, or on behalf of, staff who accepted special voluntary redundancy/retirement offers. Corresponding payments in 1992/93 totalled $2.7 million. Staff leaving the Bank in 1993/94 under these arrangements numbered 104 (44 in 1992/93).