While pension costs account for a modest part of the overall pay package for the average CEO, they soared in 2010 as interest rates fell. Meet the CEOs with the biggest pensions in the country.
No. 1. Jim Shaw in the Shaw corporate head office in Calgary, Alberta, October 22, 2010. The company's accrued obligation for Mr. Shaw's pension is $71,039,000.
(TODD KOROL/TODD KOROL For The Globe and Mail)
No. 2. Edmund Clark, president and CEO of TD Bank photographed during an interview with The Globe and Mail at the Globe's offices on Front St., Toronto December 15, 2010. Mr. Clark has a pension of $33,940,000.
(Fernando Morales/Fernando Morales/The Globe and Mail)
No. 3. Richard Waugh, president and CEO of Scotiabank, speaks to the media following the bank's annual meeting in Edmonton, on Tuesday, March 4, 2008. Mr. Waugh has a pension of $26,873,000.
(Jeff McIntosh/Jeff McIntosh/The Canadian Press)
No. 4. Rick George, president and CEO of Suncor Energy, addresses shareholders during the company's annual meeting in Calgary, Tuesday, May 4, 2010. Mr. George has a pension of $22,107,011.
(Jeff McIntosh/THE CANADIAN PRESS)
No. 5. Randy Eresman, president and CEO of Encana, addresses shareholders at the company's annual general meeting in Calgary, Alberta, April 20, 2011. Mr. Eresman has a pension of $21,708,490.
Potash Corp. CEO Bill Doyle
(Della Rollins/Della Rollins for The Globe and Mail)
No. 7. Great-West Life Assurance Company and Great-West Lifeco Inc. president and CEO Allen Loney speaks at the annual meeting of shareholders and policyholders in Winnipeg, Manitoba May 6, 2010. Mr. Loney has a pension of $19,097,086.
Power Corporation of Canada's chairman and Co-CEO arrive at the company's annual meeting in Montreal May 9 2008. Mr. Desmarais, Jr. has a pension of $18,837,000.
No. 9. Donald A. Stewart, CEO of Sun Life Financial Inc. is seen in Sunlife's Toronto office on March 26, 2010. Mr. Stewart has a pension of $18,646,000.
(JENNIFER ROBERTS/JENNIFER ROBERTS For The Globe and Mail)
Enbridge Inc. CEO Patrick Daniel
(Jeff McIntosh/Jeff McIntosh for Report on Business Magazine)