VSS

VSS stands for "Voluntary Separation Scheme". The details were announced this afternoon. There are three weeks to apply for it from today. They are offering 3 weeks pay per year of service as a severance payment. That means I'd get about 3/4 a year's pay in a tax advantaged way. So maybe a year's after tax pay. I estimate now that net worth in 2029 would be only 5% lower than it would otherwise be. It's beginning to look like a no-brainer. Next step would be meeting with my director.

P.S. 8:50pm

I sent the email to my director about discussing the VSS and other options. Apparently, there is also a retirement scheme they are progressing with the ATO and the FAQ discusses working part time etc. I ran the numbers on the payout calculator they provided. Including annual leave and long-service leave, my estimated pay out is AUD 269k. There would be an estimated AUD 40k of tax on that.