Reserve Bank of Australia Annual Report – 2003 Financial Statements Note 12 – Special Redundancy/retirement Payments

The RBA's expenses in 2002/03 include $3 million paid or payable to, or on behalf of, staff who accepted special redundancy/retirement offers. Corresponding payments in 2001/02 totalled $4 million. Staff leaving the RBA in 2002/03 under these arrangements numbered 34 (31 in 2001/02).