Reserve Bank of Australia Annual Report – 1992 Financial Statements Special Voluntary Termination/Retirement Payments

Note 11 Special Voluntary Termination/Retirement Payments

The Bank's expenses in 1991/92 include $18.8 million payments made to, or on behalf of, staff who accepted special voluntary termination/retirement offers. Corresponding payments in 1990/91 totalled $3.7 million. Staff leaving the Bank in 1991/92 under these arrangements numbered 224 (30 in 1990/91).