OPG execs in line to get pay hike
Ontario Power Generation says salaries for its executives are expected to rise by up to $8 million in the next few years as the provincial government lifts a public-sector wage freeze.
Meanwhile, transit agency Metrolinx is proposing to boost its CEO's pay by up to $118,000, which would see him earn a maximum of $479,500.
All broader public sector agencies are being tasked with posting their proposals for new executive compensation packages under guidelines that came into force in September.
The government sent colleges back to the drawing board after concerns were raised about the salary comparators that they were using for proposals that would boost presidents' salaries by up to 50 per cent.
OPG landed on a maximum salary of $3.8 million for its CEO, who currently earns $1.5 million, though it says it is setting the target significantly lower.
Spokesman Neal Kelly says the CEO's salary will actually remain unchanged for three years, but the other approximately 80 executives will now be eligible for merit pay, and when the new program is fully implemented in 2019, that's expected to cost an extra $6 million to $8 million annually.