WorkSafeBC announced today that the preliminary average base premium rate for 2026 will remain at $1.55 per $100 of assessable payroll. Subject to final approval by WorkSafeBC’s Board of Directors, this will be the ninth consecutive year that the average base rate has remained at this level.

Surplus funds returned to employers

WorkSafeBC’s strong financial position — supported by higher-than-required investment returns — has enabled surplus funds to be returned to employers, while supporting enhanced benefits for workers.

WorkSafeBC’s rate-setting approach includes mechanisms to return surplus funds to employers when the funding level exceeds its target. In 2026, WorkSafeBC is proposing to return approximately $570 million of surplus funds to employers through reduced rates.

Between 2019 and 2026, WorkSafeBC projects that $3 billion of surplus funds will have been returned to employers by pricing premium rates below the cost to run the workers’ compensation system.

The preliminary average premium rate of $1.55 will be 15 per cent less than the projected average cost rate of $1.83, with the difference funded by the surplus. Without the surplus, the average premium rate would need to increase to match the average cost rate.

Changes in 2026 will enhance rate stability

While the average base rate will be unchanged in 2026, each year, the costs in some industries go up, some go down and others stay the same. In 2026, 39 per cent of employers in B.C. are projected to experience a decrease in their industry base rate, 47 per cent will see their industry base rate increase, and 14 per cent will see no change.

Given the economic uncertainties facing the province, WorkSafeBC has made changes to the maximum increases and decreases in 2026 rates for B.C. industries, which have normally been capped at 20 per cent. For 2026, rate increases will be capped at 10 per cent, while rate decreases will be allowed to reach up to approximately 40 per cent. This change is intended to provide greater rate stability for B.C. employers during challenging economic times.

Premiums fund the workers’ compensation system

The Workers Compensation Act requires WorkSafeBC to set premium rates annually for employers to pay for the workers' compensation system. The system is structured so that today’s employers are accountable for the full cost of today’s workplace injuries.

Annual base premium rates are driven by provincial injury rates, return-to-work performance and the resulting cost of claims, as well as investment performance relative to required rates of return.

WorkSafeBC operates a not-for-profit system funded solely by employer premiums and investment returns. Premiums fund the costs associated with work-related injuries and diseases, health care, wage loss, rehabilitation, and administration, including prevention and safety initiatives.

WorkSafeBC’s Board of Directors will finalize the 2026 premium rates in November of this year.

Rate information sessions

Rate information sessions with stakeholders will take place this summer, with general information sessions scheduled for July 15, 16, and 17. These sessions are an opportunity for WorkSafeBC to provide an update on the financial state of the workers’ compensation system, rate and classification changes, and information on health and safety and return-to-work activities. Further details are posted online.

Additional information
About WorkSafeBC

WorkSafeBC engages workers and employers to prevent injury, disease, and disability in B.C. When work-related injuries or diseases occur, WorkSafeBC provides compensation and support to people in their recovery, rehabilitation, and safe return to work. We serve 2.7 million workers and 285,000 employers across B.C.

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