May 2, 2024 (WINNIPEG) – For the fifth time in six years, the Workers Compensation Board of Manitoba (WCB) is distributing surplus funds to employers whose premiums fund the workers compensation system. This distribution is made possible by the WCB’s prudent stewardship of its reserve fund, which is guided by a commitment to offer stable employer premiums, and protect Manitoba’s workforce now and in the future. The WCB may distribute funds that have accumulated beyond the level necessary to achieve these goals, while ensuring long-term sustainability of the system.« We’re pleased to announce the distribution of surplus funds to our valued employers, » says Catherine Skinner, the WCB’s Acting President and CEO. « Our commitment to sound financial management, a stable reserve fund and ongoing work in system improvements have allowed us to return $118 million to Manitoba employers. We believe employers will benefit from this financial support as they continue to navigate extended periods of high interest rates and inflation. »
In May, eligible employers will receive a credit equivalent to 50 per cent of their 2023 premium. To qualify for the refund credit, employers must have fulfilled their 2023 payroll reporting responsibilities and owed a WCB premium in 2023. Employers who have not yet reported their 2023 payroll can still submit their information to receive the surplus distribution.
About the WCB:
The Workers Compensation Board of Manitoba serves workers and employers through a no-fault insurance system integral to the Manitoba economy. Funded collectively by employers, the WCB promotes safe and healthy workplaces, facilitates recovery and return to work, delivers compassionate and supportive compensation services to workers and employers, and ensures responsible stewardship of Manitoba’s workers compensation system. For more information, visit wcb.mb.ca.
Media Contact: Sarah Wallace
Director, Communications & Public Relations
Workers Compensation Board of Manitoba
swallace@wcb.mb.ca
204-954-4201
