Rate will decrease to $1.58 in 2013, sixth consecutive reduction in a row
The average Workers’ Compensation Board employer premium rate in Saskatchewan will decrease from $1.60 to $1.58 next year, WCB chairperson David Eberle announced.
The new rates take effect on Jan. 1, 2013. Employers will receive letters this week advising them of their 2013 premium rate.
Two factors contribute to the ongoing drop in the average premium, according to Eberle.
“The first is that reported payrolls are growing,” he said. “The second factor is that our safety performance and return-to-work efforts are steadily improving.”
The rate reduction will have the following effects, according to the WCB:
• More than 30,000 employers will have a lower rate in 2013. The decreases range from 0.6 per cent to 14.4 per cent. The average decrease is 5.4 per cent.
• Another 3,050 employers will see no change to their premium.
• The remaining 9,900 employers will see an increase to their 2013 premium rate. The increases range from 0.9 per cent to 7.5 per cent, with an average of 3.3 per cent.
This is the sixth consecutive reduction to the rate, and the eighth decrease in the past nine years. The total drop since a ten-year high in 2004 is just under 23 per cent.
