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2010 Assessment Rates Announced
WorkSafeNB has announced its 2010 average assessment rate. The rate will increase slightly from $2.03 per $100 of payroll in 2009, to $2.08. The increase is effective January 1, 2010.
“This represents the first increase since 2004, and is necessary to help move WorkSafeNB toward a fully-funded position,” said Roberta Dugas, chair of WorkSafeNB’s board of directors. In 2008, WorkSafeNB’s funding level fell to 87.7% because of lower than projected investment income caused by volatile capital markets worldwide. WorkSafeNB is legislated to maintain 100% funding over four years.
“While investment returns are improving, it is difficult to predict if this trend will continue. We must take precautionary measures to secure future benefits for New Brunswick’s injured workers and their dependants," Dugas said.
Along with a gradual recovery in investment returns, 2009 has seen lower than projected accident costs. “Because accident costs play the largest part in determining assessment rates, it means that New Brunswick’s workplace safety continues to improve. Maintaining healthy and safe workplaces is the best way for employers to reduce their assessment rates,” she said.
WorkSafeNB continues to maintain the lowest assessment rates in Atlantic Canada.
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