Interest on Claim – related Benefits and Employer Accounts Policy 21-040 | Effective Date: June 22, 2026

Policy

The Workers’ Compensation Act and associated regulations provide WorkSafeNB the authority to charge and pay interest; and the rate of interest to apply in specific situations related to:

• Employer accounts;
• Workers’ benefits; and
• Service provider accounts

Interpretation

Employer accounts

1. WorkSafeNB charges interest when an employer`s account is overdue. There are specific situations where:

• Interest will not be charged; or
• The interest charged may be canceled.

2. In cases of fraud or abuse WorkSafeNB seeks interest in judgments pursued in court.

3. WorkSafeNB applies a quarterly rate of return on employer accounts under the Safety Achievement Financial Incentive System (SAFIS).

Overdue accounts

4. WorkSafeNB charges interest on overdue employer accounts. The rate of interest is defined in section 15 of Regulation 84-66 – General Regulation – Workers’ Compensation Act and is billed monthly from the date the balance became due for payment. Overdue accounts can be from:

• Assessments paid annually;
• Adjusted assessments and surcharges due to underestimating payroll; or
• SAFIS surcharges.

5. WorkSafeNB does not charge interest on overdue employer accounts when:

• MAAP employers’ accounts are overdue.  Instead, the employers are charged one percent of their overdue balance as a late payment penalty;
• An employer account is in judgment, judgment papers are completed but have not yet been signed, or the account has been transferred to long-term receivables;
• The interest in question is less than $1;
• The employer is in receivership or bankruptcy; or
• Other exceptional situations occur subject to the approval of the appropriate member of the Executive Leadership Team.

6. WorkSafeNB may cancel interest charges on overdue employer accounts when:

• The payment date of a received cheque falls on a weekend or public holiday;
• WorkSafeNB staff receives payment prior to the date the account becomes overdue;
• Transfer of credits from associated accounts were made following the overdue date;
• Delays occur in processing judgments or write-offs (cancelling or reducing a debt that is deemed uncollectable) at month-end;
• WorkSafeNB errors occur;
• Out-of-business accounts have an interest balance only;
• The employer is in financial hardship. This situation requires a WorkSafeNB review of the employer’s financial situation; or
• Other exceptional situations occur requiring consideration and approval of the appropriate member of the Executive Leadership Team.

Underestimated or underreported assessments

7. In cases where assessments are underestimated or underreported, WorkSafeNB collects the additional portion of the assessment. While no interest is charged, surcharges may apply. For more information, see Policy 23-200 Assessable Earnings.

8. In cases where employers commit fraud or abuse, WorkSafeNB seeks interest in judgments pursued in court. For more information, see Policy 46-300 Protecting the Integrity of the System. 

Accounts with surplus balance

9. WorkSafeNB does not pay interest on employers’ accounts with a surplus balance.

SAFIS

10. WorkSafeNB applies a rate of return on funds held in a SAFIS participant’s account of employers participating in the SAFIS program. This rate of return is simple interest at the quarterly rate of return on WorkSafeNB’s investment portfolio, whether positive or negative. For more information, see Policy 23-610 Safety Achievement Financial Incentive System (SAFIS).

Benefits

11. There is no interest: 

• Paid on outstanding benefits; or
• Charged on overpayments, unless there is a case of fraud or abuse.

Set aside for annuity purchase

12. When a worker or survivor is entitled to have a sum of money set aside for the future purchase of an annuity at age 65, WorkSafeNB applies a rate of return on the amount set aside. For more information, see Policy 21-206 Funding the Purchase of an Annuity.

13. The rate of return applied to the money set aside for the future purchase of an annuity at age 65 is the quarterly rate of return, whether positive or negative, of the investment portfolio of the Pension Fund. For more information, see Policy 34-200 Investment Goals and Objectives.

Outstanding benefits

14. WorkSafeNB does not pay interest on a worker’s outstanding benefits, including medical aid.

Overpayments

15. WorkSafeNB does not charge interest on the amounts due as a result of overpayments, except in cases of fraud and abuse. For more information, see Policy 21-290 Recovery of Claim-related Overpayments.

16. In cases where workers or survivors commit fraud or abuse resulting in overpayments, including overpayments relating to medical aid benefits, WorkSafeNB seeks interest in judgments pursued in court. For more information, see Policy 46-300 Protecting the Integrity of the System.

Service provider accounts

17. WorkSafeNB does not pay interest on service providers’ accounts with an outstanding balance.

18. In cases where service providers commit fraud or abuse resulting in overpayments, including overpayments relating to medical aid benefits, WorkSafeNB seeks interest in judgments pursued in court. For more information, see Policy 46-300 Protecting the Integrity of the System.

Previous Versions

• Policy 21-040 Interest on Claim-related Benefits and Employer Accounts, release 7, effective December 16, 2016
• Policy 21-040 Interest on Claim-related Benefits and Employer Accounts, release 6, effective December 7, 2016
• Policy 21-040 Interest on Claim-related Benefits and Employer Accounts, release 5, effective February 25, 2014