Employers getting $74M back from Workers Compensation Board after surplus
Time-loss injuries fell 16% over 5 years
The Workers Compensation Board is giving $74 million back to employers after a decline in the number of time-loss injuries among workers resulted in fewer payments and a large surplus.
Eligible employers will get a credit of 40 per cent of their 2018 premium.
Time-loss injuries — that is, injuries that require a worker to take time off — have fallen 16 per cent over the last five years, while the rate that employers pay the Workers Compensation Board has dropped 37 per cent from $1.50 per $100 of payroll to $0.95 per $100 of payroll.
"For the past four years, the WCB has been focused on reducing rates as well as investing in systems to improve injury prevention and Return to Work programs," Winston Maharaj, WCB president and CEO, said in a news release.
Manitoba Growth, Enterprise and Trade minister Blaine Pedersen released a statement praising the WCB for returning money to employers.
"The distribution of surplus funds to employers, whose premiums fund the workers compensation system, is positive news for both employers and workers in the province," he said in the statement.