The total salary of the six oldest executives of the Caisse de depot et placement du Québec (CDPQ) was established at the equivalent of $ 19.5 million, taking into account fees and money transfers.
This information appears in its most recent annual report, filed Thursday at the National Assembly.
The total compensation of President and CEO Charles Émond will reach $ 4.5 million in 2021. This is an increase of 30.5% compared to the same period last year.
To this amount was added a compensation amount of $ 1.8 million, bringing the total payment to $ 6.3 million. When he was accepted in 2019, Mr. Émond, who previously worked at Scotiabank, got a compensatory amount, the payment of which has already been announced and spread over several years.
In comparison, the compensation provided to the big boss of the Ontario Teachers ’Pension Plan reached $ 5.8 million in 2021. For his part, the most senior executive of the Ontario Municipal Employees Retirement System (OMERS) earned 5.1 million in 2021.
For the three executives in office for the full year of comparison (2020), their total remuneration increased by an average of 31.2%.
Highest return in 10 years
The increase in senior executive compensation reflects Caisse’s good performance in 2021, explained its spokesperson, Maxime Chagnon. He noted that Caisse posted the strongest return in 10 years at 13.5% in 2021, which is higher than its benchmark index of 10.7%. This represents an additional amount of $ 10.4 billion. The program is there to pay for the performance earned, the spokesperson said. The years the less we perform, the lower the salary.
For all Caisse employees, the bonuses granted increased by 13% on average per person. In total, Caisse paid $ 187.9 million to its 1,454 employees in 2021 compared to $ 158.7 million paid to its 1,391 employees in 2020. As of December 31, 2021, 1,292 of those employees will work in Quebec.
Management fees remained stable compared to last year at 0.23% of its assets.
Source: Radio-Canada
