WCB surplus to spin off refund credits to employers
For the fourth year in a row, the Workers Compensation Board of Manitoba is issuing refund credits to eligible employers, from a $95-million surplus due, in part, to fewer injuries and more timely return-to-work performance.
Eligible employers will receive in May a credit based on 50 per cent of their 2021 premium. To receive the refund credit, employers must have fulfilled their 2021 payroll reporting responsibilities and owed a WCB premium in 2021.
“We are pleased that strong investment market performance has resulted in us achieving better financial results than initially forecast,” said WCB President Richard Deacon.
This is evidence that the dedicated work in safety and health education and training is paying off, both at the worker and the employer level, said MHCA WORKSAFELY® Director Don Hurst.
Hurst said the focus on return-to-work, which assists injured workers to make a safe, smooth transition back to the job, is also helping.
“We’re really happy to see the progress in our industry, and for all workplaces,” MHCA President Chris Lorenc said. “Our first job in heavy construction is to ensure workers are trained and aware of all the safety hazards and tools for preventing injury.”
Employers who have not yet reported their 2021 payroll can still submit their information to receive the surplus distribution.
Read the full release from the WCB on the refund credits.
