In balance with improved benefits for workers, rate reduction puts $75 million back into the economy
WCB Nova Scotia announced today that it is lowering the average employer rate to $2.25 per $100 of assessable payroll —a 15% reduction and the first rate cut in a generation.
This reduction is putting money back into the Nova Scotia economy, helping employers across the province reinvest, grow, and support their people.
At the same time, worker benefits are also improving.
Beginning in 2027, workers will have their benefits indexed to the full cost of living, instead of just half, after changes made by Government last year to the Workers’ Compensation Act.
“Reaching a position of financial strength means we can now do more for the people we serve,” says WCB Board Chair Saeed El-Darahali. “Workers can now begin to receive improved benefits, and employers can begin to see the cost of workers’ compensation come down.”
It’s balanced change that workers and employers have been waiting for, and a transformation guided by the Board’s 2024-2030 Protect More Strategic Plan.
The rate reduction has become possible through careful financial stewardship, a record-low workplace injury rate that has been steadily declining for 20 years, and more people staying connected to work after an injury.
It’s a moment that once felt out of reach for many.
In the early 1990s, Nova Scotia’s workers’ compensation system was only 27 per cent funded after years of keeping assessment rates artificially low.
As a result, both workers and employers felt the impact of the system’s financial challenges — benefits were low, rates were high.
The goal was to strengthen WCB’s financial position over time so the system could better support workers and employers.
A 2024 government review recognized progress that had been made but challenged the system to pick up the pace. It called for a continued focus on better outcomes for workers and employers, supported by a stronger financial foundation.
Today, WCB is 117 per cent funded. The milestone marks a transformation in workers’ compensation that’s putting Nova Scotians first and helping build a sustainable system for years to come.
And while today is about celebrating progress, the WCB says it’s also about maintaining momentum.
El-Darahali adds that he hopes the future is one where benefits can continue to improve for Nova Scotians injured at work, and the cost of WCB insurance to employers can keep declining.
“Accountability got us here, and it will take us even further,” says El-Darahali. “This is just the beginning.”
Additional Quotes
“Accountability led to this success. WCB takes seriously our accountability to the Nova Scotians we protect. Employers are more accountable than ever for workplace safety. And workers are increasingly accountable for engaging in their own recovery in the unfortunate event of an injury. There is more success to come. We are just getting started."
-Karen Adams, CEO, Workers’ Compensation Board of Nova Scotia
“This reduction shows the progress we’re making to build a stronger, more sustainable workers’ compensation system. By focusing on prevention and helping Nova Scotians hurt on the job recover and return to work safely, we are improving outcomes for workers while lowering costs for employers at the same time. We will keep working with WCB and our partners to build on that progress.”
- Nolan Young, Minister of Labour, Skills and Immigration
“A reduction in rates is very welcome relief and means there are progressive changes happening between WCB and the business community. A rate cut like this will create cost-savings for employers that will go a long way to supporting their business and cultivating a more competitive province.”
-Tony Jabbour, Senior Vice President, Global Supply Chain, Clearwater Seafoods Inc.
“We’re getting to a place where there are reduced injuries and safer workplaces. This rate reduction means we have a healthy system that’s there to support workers in getting back to the jobs they love after an injury.”
-Alison Casey, Executive Director, Mainland Nova Scotia Building Trades
“My first reaction when I heard WCB rates were going down was I was ecstatic. When these rates are reduced, it will allow EMCI to take that money and reinvest back into new equipment, enhanced technologies and other services that have a huge impact on Nova Scotians.”
-Matthew Crossman, President and Chief Operating Officer, Emergency Medical Care Inc.