October 14, 2008
to October 27, 2009
Finance, Investments and Administration
The Board of Directorsof the Yukon Workers' Compensation Health and Safety Board (YWCHSB) plays a key role in the financial stewardship of the workers' compensation system. The funding policy establishes a framework that ensures the financial security and sustainabilityof the compensation system in the long term. The framework strives for equity among generations of employers by charging today's employersfor today's injury and administrationcosts. Under the funding framework, the assessment rates set for employers should be stable and predictable.
The reserves protectthe workers' compensation system from a variety of risks and uncertaintiesthat could have significant financial implications.The levels of these reserves will be based on amounts necessary to protect the compensation system against these risks and uncertainties.
This policy guides the Board of Directors to ensure a sound financial position is maintained by the Board of Directors, that fiduciary responsibilities are in accordance with the Workers' Compensation Act S.Y. 2008 (the "Acf') and that the Board of Directors exercises prudence, discretion and intelligence.