Human Resources Legislative Update
Ontario WSIB Funding Changes Announced on Heels of Arthurs Report
Date: May 4, 2012
On May 4, 2012, the Ontario government announced that it would file a new regulation under the Workplace Safety and Insurance Act, 1997, to require the insurance fund of the Workplace Safety and Insurance Board (“WSIB”) to reach sufficiency of 60 per cent funding in 2017, 80 per cent funding in 2022 and a full 100 per cent funding by 2027. Also announced were benefit increases to injured workers on partial disability by 0.5 per cent in 2013 and another 0.5 per cent in 2014.
This announcement was in response to the WSIB Funding Review chaired by Professor Arthurs and its resulting report entitled “Funding Fairness: A Report on Ontario’s Workplace Safety and Insurance System.”
As previously reported, the Funding Review was established to consider policy issues relating to the financial future of the WSIB, including a plan on how to eliminate its unfunded liability.