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WorkSafeNB decreases 2018 assessment rate for firefighters

October 12, 2017

WorkSafeNB announced the 2018 assessment rate under the Firefighters' Compensation (FC) Act at $515 per active firefighter. The new rate is effective January 1, 2018.

The 25% drop from $690 per active firefighter to $515 will affect approximately 100 municipalities and 70 local service districts that employ full-time and volunteer firefighters.

Tim Petersen, WorkSafeNB’s acting president and CEO, said the rate reflects the FC Act Disability Fund’s improving funding position.

“The new rate is a result of lower than anticipated claim costs, improved assumptions used to project future claims and better than expected investment returns. The rate includes a provision for claim costs incurred in 2018 and a provision to reach full funding over 20 years as required by legislation.”

The unfunded liability at the end of 2016 was $8.9 million, down from $14.3 million at the end of 2015. From 2010 to 2014, $444 was levied annually per firefighter as required by legislation. From 2015 to 2017, the annual assessment per firefighter was approved at $690. 

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