Reserve Bank of Australia Annual Report – 2005 Financial Statements Note 12

Note 12 SPECIAL REDUNDANCY/RETIREMENT PAYMENTS

The RBA's expenses in 2004/05 include $681,961 paid or payable to, or on behalf of, staff who accepted special redundancy/retirement offers. Corresponding payments in 2003/04 totalled $3,081,672. Staff leaving the RBA in 2004/05 under these arrangements numbered 13 (31 in 2003/04).