The Workplace Safety and Insurance Board (WSIB) has set the 2009 final average premium rate for Schedule 1 employers. The board has decided to keep the 2009 average premium rate unchanged at $2.26 - based on careful financial analysis and an expectation that improvements will occur in health and safety and return-to-work outcomes consistent with the WSIB's Road to Zero and Prevention Strategies.
The 2009 Premium Rates were approved and finalized on July 24, 2008. Employers can finalize financial forecasting and budgeting for next year.
In addition, the WSIB maximum insurable earnings ceiling for 2009 increases to $74,600 from $73,300. The final maximum insurable earnings ceiling is set based on the April preliminary average weekly earnings aggregate, published by Statistics Canada.
Based on the average rate, the WSIB has calculated 2009 premium rates for all employer rate groups. These rates are posted on the WSIB website at www.wsib.on.ca/wsib/wsibsite.nsf/public/PremiumRates2009#table.
Starting in June, the WSIB will present information sessions on preliminary 2009 premium rates for employers and their representatives. WSIB account representatives will also be personally contacting those individual employers who are expected to see a significant increase in their premium rate for 2009.
For more information on the WSIB 2009 premium rates, go to www.wsib.on.ca/wsib/wsibobj.nsf/LookupFiles/2009PremiumRatesQA/$File/PR2009QA.pdf.
By Yosie Saint-Cyr, LL.B., Managing Editor at HRinfodesk.com
Published on HRinfodesk---Canadian Payroll and Employment Law News and Developments
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