WSCB announces industry assessment rates for 2025 and rebate
September 11, 2024
Workers’ Safety and Compensation Board (WSCB) announced 2025 assessment rates, the 2025 maximum annual earnings rate and an upcoming employer rebate at their annual information meeting today.
Assessment rates and industry classifications
Assessment rates for 2025 will be reduced across all rate groups. Approximately three-quarters of employers will see a reduction of more than 5 per cent, while the rest will see a reduction of less than 5 per cent.
Rate reductions are reflective of the strong financial position of the Compensation Fund at the end of 2023 as well as the efforts of Yukon workers and employers in improving health and safety in workplaces.
Maximum annual earnings
Finally, the board announced that the maximum annual earnings rate for 2025 is $104,975. Employers can expect an email outlining their specific rates later this fall.
Rebate
For the sixth time since 2015, WSCB will distribute a rebate to eligible employers. The rebate amounts to $10 million.
At the end of 2023, the Compensation Fund’s funded position was 142 per cent. WSCB strives to maintain the Compensation Fund at between 121 and 129 per cent, a range established through consultation with its stakeholder groups.
This surplus can be attributed to market recoveries, prudent management of investments and an increase in safety culture in Yukon workplaces.
Visit our website for more information on any of these announcements.
Quotes
“The Board of Directors is proud to announce rate reductions to all industries. In promoting safety culture and prioritizing fiscal discipline, our ultimate goal is to ensure every worker's well-being.”-Board of Directors Chair, Mark Pike
"Fostering a culture where safety thrives and preventing injuries, both physical and psychological, is a key component in keeping rates low."
-President/CEO, Kurt Dieckmann
2025 Industry Classifications and Assessment Rates
| Rate group | 2025 rate | 2024 rate | Change |
| Resources & Transportation Low | $2.03 | $2.30 | (11.7%) |
| Resources & Transportation Medium | $3.78 | $4.15 | (8.9%) |
| Resources & Transportation High | $6.47 | $7.51 | (13.8%) |
| Construction Medium | $3.13 | $3.35 | (6.6%) |
| Construction High | $4.39 | $5.00 | (12.2%) |
| Services Low | $0.77 | $0.80 | (3.8%) |
| Services Medium | $1.42 | $1.53 | (7.2%) |
| Services High | $1.96 | $2.19 | (10.5%) |
| Government | $1.86 | $1.93 | (3.6%) |
Related information
Contact
Heather AveryWorkers’ Safety and Compensation Board
Phone: 867-332-4794
Email: [email protected]