Maximum Wage Rate
The 2018 maximum wage rate, also known as the maximum assessable earnings rate, is $86,971.
Here is the maximum wage rate from past years:
2017 - $85,601
2016 - $84,837
2015 - $84,837
The rate is revised every year according to methods set out in the Workers' Compensation Act.
Relevance to Employers
The maximum wage rate is used to calculate employer premiums. It determines the maximum level of earnings to which employers will be assessed. It also affects pension amounts for some workers.
Relevance to Workers and Claimants
The maximum wage rate represents the maximum annual wage benefits injured workers can receive for loss of earnings.
Generally, here's how it works: Injured workers compensated for wage loss receive 75 per cent of their gross pre-injury earnings, tax-free. An injured worker who makes $45,000 would receive 75 per cent of $45,000. A worker who makes $100,000 would be affected by the maximum wage rate and would receive 75 per cent of $86,971 in 2018.