N.S. workers’ compensation board makes 15 per cent rate cut

The Workers’ Compensation Board of Nova Scotia is cutting the average employer rate by 15 per cent next year.

The Workers’ Compensation Board (WCB) of Nova Scotia is cutting the average employer rate by 15 per cent next year, which it says is the first such reduction in a generation.

The WCB, which provides workplace injury insurance in Nova Scotia, said the average employer rate will be $2.25 per $100 of assessable payroll. Next year, workers will also have their benefits indexed to the full cost of living, as opposed to half.

“Reaching a position of financial strength means we can now do more for the people we serve,” says board chair Saeed El-Darahali in a news release. “Workers can now begin to receive improved benefits, and employers can begin to see the cost of workers’ compensation come down.”

The WCB says the workers’ compensation system was only 27 per cent funded in the early 1990s, but it now claims to be 117 per cent funded.

“Accountability led to this success,” said Karen Adams, CEO of the board. “WCB takes seriously our accountability to the Nova Scotians we protect.

“Employers are more accountable than ever for workplace safety. And workers are increasingly accountable for engaging in their own recovery in the unfortunate event of an injury.”

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