Ontario’s safe employers to receive WSIB rebates
By Greenhouse Canada
By Greenhouse Canada
The Ontario government has announced safe employers will receive a rebate of up to $1.5 billion as Workplace Safety and Insurance Board (WSIB) surplus funds are returned for the first time.
This rebate will give 300,000 businesses back approximately 30 per cent of their annual premium payments, helping create new jobs and allowing for bigger paycheques for workers.
Surplus distribution was a key recommendation in an independent operational review of the WSIB.
“After historic underfunding and mismanagement, Premier Ford and I are creating generational change at the WSIB to ensure it is working for workers,” said Monte McNaughton, Minister of Labour, Training and Skills Development.
The surplus distribution will only be provided to safe employers, who will receive their rebates starting in April. For a business with 80 to 125 employees, this could mean receiving $28,000 to reinvest in their business and workers.
Schedule 1 businesses must meet the following eligibility requirements to receive a rebate of surplus funds:
- have an active account as of January 31, 2022
- had premium obligations in either 2019 or 2020
- have not been convicted of a Workplace Safety and Insurance Act or an Occupational Health and Safety Act offence in a proceeding under Part III of the Provincial Offences Act, in 2021 or in 2022 up to and including the date the WSIB issues rebates
- have not been convicted in more than one such proceeding between 2017 and 2022 up to and including the date the WSIB issues rebates
“Ontario businesses are paying the lowest average premium rate in more than 20 years,” said Grant Walsh, Chair of the WSIB. “With solid financial management we can give this rebate to businesses at a time when they need it most while protecting coverage for people injured at work.”
This distribution comes four years after the elimination of the board’s unfunded liability.
An independent agency entirely funded by employers, WSIB provides loss of earnings and other benefits to workers and their survivors, health care, and assists in early, safe return to work for workers injured on the job or made ill by an occupational disease.
Sources: Ontario Ministry of Labour, Training and Skills Development, WSIB