While the average rate is $1.73, employers’ rates will vary based on their industry group’s claims experience as well as their own. Sixty-two per cent of employers will have a lower or the same assessment rate in 2025, while 38 per cent will have a higher rate.
Through WorkplaceNL’s PRIME program, employers can lower their assessments while creating safer workplaces. Functioning safety programs prevent injuries and return-to-work programs support injured or ill workers – fewer injuries and less time away from work, when appropriate, means lower claims costs.
As well, the Maximum Compensable and Assessable Earnings (MCAE) will increase by 3.1 per cent for 2025, from $76,955 to $79,345.
The MCAE is the maximum earnings insured per worker. Wage-loss benefits for injured workers submitting a new claim in 2025 whose pre-injury earnings are at or above $79,345 will be calculated using this new limit. WorkplaceNL adjusts the MCAE each year based on the average Consumer Price Index.
“In the unfortunate event of a workplace injury or illness, our no-fault workers’ compensation system protects workers and employers,” said Ann Martin, CEO, WorkplaceNL. “The assessment rate is set each year to cover the costs of wage-loss and health care benefits for injuries expected in the year, for the duration of the claim.”
“Of course, we prefer to have no workplace injuries at all. We work directly with workplaces to help prevent injury and illness through safer workplaces and effective return-to-work programs. Our employees are here to help,” she added.
The temporary discount, which started in 2019, remains to address a surplus in the Injury Fund. The funded ratio was 121 per cent at year-end 2023, the discount remains until the 110 per cent funded target is reached. Fluctuations in global financial markets may impact Injury Fund investments and, therefore, the funded position. Rising costs and possible future benefit changes may also have an impact.
Notices of assessment rates for employers will be online this week. Employers are encouraged to register for a connect (online services) account via MyWorkplaceNL if they have not already done so.
More info: WorkplaceNL