Detailed information on total compensation for senior public-sector executives in B.C. shows the ongoing measures taken by government to increase affordability, transparency and accountability are working.

The total amount of compensation is down by 4.3% over 2013-14. The average total compensation per executive dropped by 6.2% (nearly $15,000), and the number of executives receiving holdbacks, bonuses or incentive pay decreased by approximately 10%.

Government has taken a number of actions in recent years to further align executive compensation with the priorities and fiscally prudent principles of government:

• In February 2015, the Public Sector Employers’ Council Secretariat and the Crown Agencies Resource Office held Accountability and Disclosure information sessions for senior HR employees, CEOs, board chairs and members, and employees in ministries responsible to provide a detailed overview of the executive compensation disclosure process, the changes made to the guidelines in 2014, and an overview of the Taxpayer Accountability Principles.
• In July 2014, government provided direction to public sector entities on standards of conduct, including post-employment restrictions and implemented the new Taxpayer Accountability Principles that strengthen accountability, promote cost-control, and ensure public-sector entities operate in the best interest of taxpayers.
• In May 2014, government revised disclosure guidelines to further clarify and enhance the transparency of the compensation paid to CEOs and the top four decision-makers earning $125,000 or more working at public-sector entities.
• In July 2012, government introduced a new executive compensation framework for Crown corporations.

In conjunction with the release of Public Accounts 2014-15, this is government’s eighth annual executive compensation disclosure, which includes the total compensation of the CEO and top four decision-makers with a base salary of $125,000 or above for each public-sector employer in the preceding fiscal year. Each annual disclosure includes base pay, pension, benefits, performance-based pay or holdbacks and any pre- or post-employment contracts, as well as elements that may vary year to year and affect the overall total, such as unused vacation, retirement allowances or severance. B.C. continues to be a leader in executive compensation disclosure in Canada.

Learn More:

Executive compensation disclosures: http://www.fin.gov.bc.ca/psec/disclosure/index.htm

Crown corporation executive compensation policy:
http://www.fin.gov.bc.ca/psec/disclosuredocs/crown_corporation_executive_compensation_july_2012.pdf

Standards of conduct guidelines for the B.C. public sector: http://ow.ly/z0teS

Taxpayer accountability principles: http://gov.bc.ca/crownaccountabilities

Public-sector executive compensation reporting guidelines:
http://www.fin.gov.bc.ca/psec/disclosuredocs/guide-executive-compensation-disclosure.pdf

A copy of the Executive Compensation Disclosure powerpoint presentation is available:
http://www.newsroom.gov.bc.ca/downloads/Exec Comp 2014-15-2015-10-10.pdf

Media Contacts:

Jamie Edwardson
Communications Director
Ministry of Finance
250 356-2821