the restrictions in pwc’s “termination payments” agreement around former partners working at rival consulting firms are detailed in a version of the firm’s secretive partnership agreement described to afr weekend and confirmed with multiple pwc insiders. the closely-guarded retirement payment plan, revealed by the australian financial review last february, costs the firm an estimated $88 million a year, based on the average payment multiplied by the approximate 625 former partners receiving the payment at the end of last june. insiders say the list of firms “determined to be a major competitor” of pwc is ever-growing as the multi-disciplinary firm expands into additional services beyond traditional accounting, tax and consulting.