Ontario’s safe employers receiving up to $1.5 billion rebate
Ontario’s safe employers are receiving 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. This builds on the government’s $2.4 billion that has already been given back to employers through premium reductions, while maintaining benefits for injured workers.
“Ontario businesses are paying the lowest average premium rate in more than 20 years,” said Grant Walsh, Chair, 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.”
The surplus distribution will only be provided to safe employers, who will receive their rebates starting in April.