New Brunswick Public Electric Services paid $ 1.15 million in the first retirement for eight employees who had already announced that they left Crown Corporation, said the province of the province, Paul Martin, in a report published on Tuesday.
He was one of the main conclusions of the report on the NB Power early retirement program.
The report noted the importance of good decision-making in the provincial public service, warning that expensive programs could lead to an increase in electricity rates for new-brunswick residents and businesses. He also warned that the reliability of the system was at stake.
The audit said that he was unable to obtain documents from NB Power to show how the company checked if he lost essential workers when implementing his plan.
He also found that the Crown Corporation did not save as much as expected, when it announced the program for the first time in October 2022.
In addition, Martin’s report said the listeners found no evidence that officials who prepared the program had properly analyzed the situation to maintain low costs. Consequently, the audit said that there was no evidence showing that the retirement program had produced a value for the money it spent.
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After announcing the program, the Crown Corporation saw its workforce increase by 157 people between 2022 and 2025, according to the report.
“It continues to grow. I don’t know how they think they saved money,” said Martin after publishing the report. “I can’t find a number that makes sense.”
Overall, the audit revealed that NB Power had overestimated how much money the program would save millions of dollars because it did not take into account those who were already retired.
Apart from the eight employees who benefited from the program despite the announcement of their retirement before its announcement, the audit also found three examples of employees who were paid to work after accepting early retirement packages.
“We noted that 244 employees retired during this period with potentially only 44 additional pensions due to the early retirement program,” said the audit.
The report also noted how the company’s management gave a “limited analysis” of the situation to the board of directors before it approves the plan unanimously.
And at least two members of the board of directors did not access an electronic portal to examine an information note before voting, the audit said.
In response, the Crown Corporation said that it agreed with the recommendations of the audit aimed at improving its practices and plans to implement changes in the coming months.
Glen Savoie, head of opposition progressives, said he was “shocking” that NB Power spent millions of dollars on a retirement package intended to reduce the number of employees, but managed to increase staff.
“It simply shows the problems that happen within NB Power himself,” he said.
The Green Party leader David Coon called for this a systemic problem.
“It’s a boondoggy,” he said.
“A large number of people who benefited from the package would retire anyway. This was supposed to be an encouragement for early retirement to save money, and the vast majority of people who received it retired in any event. ”
This Canadian press report was published for the first time on June 10, 2025
& Copy 2025 the Canadian press