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Robert Jones, CBC News
Mike Ferguson has served as Controller of New Brunswick until 2005 when he was appointed Auditor-General. Ferguson is now the Deputy Minister of finance.Mike Ferguson has served as an observer of New Brunswick until 2005 when he was appointed Auditor-General. Ferguson is now the Deputy Minister of Finance. (CBC)

New Brunswick, said the new Deputy Minister of Finance can not give bonuses to the staff planned a major New Brunswick Investment Management Corporation of the County to ensure that the appropriate performance rewarding.

Mike Ferguson to hold this position in the Ministry of Finance after several years as director-general of accounts in New Brunswick, and some questions about the structure of payment used by the managers of the retirement bonus provinces.

"While this is an organization that handles a large amount of money, it is still important for such an organization has the same type of limitation of the cost of any other part of the government will" he said.

Has paid about 20 managers of pension and staff to support the company, or NBIMC, 000 900 dollars in bonuses last year and $ 3.8 million over the past four years, as a reward for achieving investment returns that exceeded the rates of industry and organization-specific operational expenses through He claims 121700000 dollars over seven years.

But according to the review of this grant program by CBC News, the real value added per employee NBIMC to generate these premiums is less than half that number. Instead of qualified staff for more than rewards obtained, and the elimination of a group performing funds in their portfolios and the results inflated to increase the amount.
Ferguson wants more information

Ferguson said he was aware NBIMC amendments to the actual investment results to employees for salaries and bonuses, which he says he wants to know more about it.

"The problem is that I have I can not tell you is that this amendment makes sense or it does not make sense," adding, "I can not say," Yes, there should be, "or" No, should not be there. "All I know is that they use a number that is not the same number used in accordance with the standards. I think you should be the amendments approved by the province."

NBIMC publicly acknowledge that the removal of some of the investment accounts of the slow reward led to an increase in the salaries of staff, but Michael Walton - who heads the organization of human resources and compensation - said the board is determined to practice.

"It is not easy to put black and white. It's a complex issue," said Walton. "Sometimes like we sometimes do not ... but you have to choose your line and go and we are confident that in the long run it is good how do we do with this asset class. "

NBIMC premium has grown from a modest $ 134,000 in 1999-2000 to a peak of $ 1.3 million in 2008-09. This is the average growth in a reward of 30 percent to compensate for the employee - with the senior managers benefit more than others. President John Sinclair got NBIMC more than $ 525,000, with more than 100,000 access this bonus.


Read more: http://www.cbc.ca/canada/new-brunswick/story/2010/12/20/nb-pension-managers-b ...