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NB Power Offered Retirement Packages to Employees Who Were Already Leaving: Audit - New Brunswick
- Three experts were selected on May 23, 2025, to lead a review of NB Power and provide recommendations on its future amid public dissatisfaction.
- An audit revealed that NB Power disbursed $1.15 million in retirement bonuses to eight staff members who had previously indicated their intention to leave the company.
- NB Power announced the early retirement program in October 2022, approved unanimously by the board despite limited analysis and insufficient briefing of some directors.
- The audit by Paul Martin revealed the program saved $11.3 million in labor costs, less than initially estimated, and noted a lack of documentation on protecting key positions.
- NB Power agreed to implement five recommendations to improve program planning and pledged to document status of eliminated positions for five years, addressing concerns raised.
17 Articles
17 Articles
Bradford Today
NB Power offered retirement packages to employees who were already leaving: audit
FREDERICTON — A new audit says New Brunswick's electric utility company paid $1.15 million in early retirement incentives for eight employees who had already announced they were leaving the Crown corporation.
Retirement incentives paid to N.B. Power employees who were already leaving, auditor says
An early retirement program offered by N.B. Power in the 2023 fiscal year to save money paid more than $1 million to a group of employees who had already announced plans to leave the utility for free, according to a review by New Brunswick Auditor General Paul Martin.
An early retirement program offered to some NB Energy employees did not realize the expected savings, according to the Auditor General, and the Crown corporation was with more employees than before.
NB Power offered retirement packages to employees who were already leaving: audit – New Brunswick
New Brunswick’s electric utility company paid $1.15 million in early retirement incentives for eight employees who had already announced they were leaving the Crown corporation, said the province’s auditor general, Paul Martin, in a report released Tuesday. This was among the key findings in the report on NB Power’s early retirement program. The report noted the importance of sound decision-making at the provincial utility, warning that costly p…
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