News
Putting more money back into workers’ pockets. Keeping costs down for employers.
November 21, 2024 The Ontario government is keeping costs down for workers and businesses by giving back over $2.5 billion by rebating Workplace Safety and Insurance Board (WSIB) surpluses to hundreds of thousands of safe employers, reducing business premium rates and investing in keeping workers healthy and safe. These ground-breaking measures will pump billions of dollars back into the economy, helping to rebuild Ontario’s economy and support workers.
Here’s how it works:
Returning $2 billion in surplus funds to Ontario businesses through the WSIB thanks to the agency’s new approach to strong financial management. Eligible employers will receive their one-time rebate starting in February 2025 if they are a safe employer, which includes not having been convicted more than once under the Workplace Safety and Insurance Act or Occupational Health and Safety Act since 2020. For a small construction business with 50 employees, this could mean receiving $46,000 to reinvest in new jobs, enhanced health and safety programs and bigger paycheques.
Cutting the average premium rate for Ontario businesses from $1.30 to $1.25 per $100 of insurable payroll through the WSIB starting in 2025, without reducing benefits. This is the lowest rate in half a century and will save Ontario businesses about $150 million annually starting in 2025 when compared to the 2024 rate. Over the past decade, the WSIB has cut the average premium rate by more than 50 per cent, resulting in cumulative savings for businesses of approximately $18.6 billion since 2017.
Unlocking $400 million to invest in health and safety programs for workers and employers developed by the WSIB, focusing on mental health, preventative and chronic injury care and recovery to ensure workers have the supports they need to return to work safely and quickly. This will include expanding the WSIB’s mental health care programming to partner with 11 public hospitals and their networks of community-based service providers across Ontario to ensure workers have the care they need, when and where they need it.
Removing the $150 fee for apprentices taking their first Certificate of Qualification exam, making it easier for more people to start their career in the skilled trades. When combined with other fee reductions and removals that the province has implemented since 2019, Ontario is saving each apprentice at least $330, putting almost $3.6 million back into the pockets of nearly 11,000 apprentices.
Launching a new Safe Business Bonus with an additional $1,000 bonus to eligible employers who create a new workplace health and safety action plan approved through the WSIB’s Health and Safety Excellence program, starting in 2025. Over 4,600 businesses are currently enrolled in the WSIB Health and Safety Excellence program. Since the program's launch in 2019, members have received total rebates of over $68 million, including $15 million in additional incentives for smaller businesses that participated in 2023-2024.
