Saskatchewan employers will see a WCB premium rate drop in 2016 due to improved safety performance. The Board stated that:
• Improved safety performance records in 45 of 50 industry rate codes will result in lower premium rates in 2016 for 45,683 of Saskatchewan's 47,783 employers.
• This is the lowest proposed average premium rate in 30 years (since 1986)
• the provincial injury rate continues to fall
The Saskatchewan Workers' Compensation Board (WCB) proposed an 8.2 percent drop to its 2016 average premium rate, from $1.46 to $1.34 per hundred dollars of payroll.
The 2016 rate reduction is the ninth straight drop to the average premium rate and the lowest rate in thirty years. The 2016 rate proposal means that Saskatchewan could have the fourth lowest average premium rate in Canada next year.
WCB's CEO Peter Federko said, "Our rates continue to improve because of decreased injury rates and an increase in return-to-work programs. This ninth straight premium rate reduction demonstrates the direct impact of injury prevention by Saskatchewan employers and workers. Employers and workers are committing to making workplaces safer. It's having a steady positive effect on the injury rate."
Under the WCB Experience Rating program, employers with above-par safety records earn premium discounts; poor performers pay a surcharge.