Reserve Bank of Australia Annual Report – 1995 Financial Statements Special Voluntary Redundancy/Retirement Payments

Note 11 Special Voluntary Redundancy/Retirement Payments

The Bank's expenses in 1994/95 include $18.1 million in payments made to, or on behalf of, staff who accepted special voluntary redundancy/retirement offers. Corresponding payments in 1993/94 totalled $9.8 million. Staff leaving the Bank in 1994/95 under these arrangements numbered 195 (104 in 1993/94).