Reserve Bank of Australia Annual Report – 2004 Financial Statements Note 12 – Special Redundancy/Retirement Payments

The RBA's expenses in 2003/04 include $3,081,672 paid or payable to, or on behalf of, staff who accepted special redundancy/retirement offers. Corresponding payments in 2002/03 totalled $2,966,623. Staff leaving the RBA in 2003/04 under these arrangements numbered 31 (34 in 2002/03).