WSCC increasing assessment rates for 2013
Yellowknife, N.W.T. - The Workers Safety and Compensation Commission is upping its average provisional assessment rate for 2013.
The rate, which sat at $1.77 for each $100 of assessable payroll, will be set at $2.05 per $100 and will be the starting point for individual sub-class rates.
The WSCC will no longer be subsidizing the rates because of higher health care costs and the economy.
WSCC chair Bill Aho said things just haven't gone as well as in past years.
"The amount of money that we receive from our investments on our accident fund, due to the challenges that our economy has seen over the last three or four years, has gone down dramatically. So we no long have the same ability to generate revenue on our investments."
When it comes to sub-class rates, Aho said those aren't being released as of yet.
"Our actuary takes the average rate and applies it to individual sub-classes and then the final decision is made in our September meetings as to what the rates are going to be for the individual sub-classes."
The final rates for sub-classes will be released in October following a meeting of the WSCC Governance Council in September.
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