To ensure the sustainability of the workers’ compensation system, WorkSafeNB, has set a funding goal of 115-125%. Due to the collective efforts of employers, workers, and WorkSafeNB, we have achieved better than expected performance related to injury frequency and return to work outcomes, and, along with strong financial and investment results, WorkSafeNB’s funding level on December 31, 2023, was156.1%.
The funding position also allows for lower average assessment rates. Premiums needed to cover the cost of benefits and administration for 2025 injuries amount to a $1.24 average rate per $100 of assessable payroll. The strong funding level allows for a $0.14 rebate, reducing the 2025 provincial provisional average rate to $1.10.
WorkSafeNB’s performance refund is possible thanks to all the excellent work carried out by New Brunswickers working each day to make our province the safest place to work.
The following resources will help answer any questions you may have on the distribution of our surplus funds. If you still have questions about your rebate, please contact assessment.cotisations@ws-ts.nb.ca.
A performance refund is a distribution of surplus funds from WorkSafeNB's Accident Fund to New Brunswick employers. When WorkSafeNB's funding level exceeds 140%, excess funds may be returned to employers in the form of performance refunds.
WorkSafeNB’s funding level at the most recent fiscal year-end of December 31, 2023, was 156.1%. This is owing to our strong financial and investment strategy along with lower-than-expected injury frequency and improved return-to-work outcomes.
In accordance with the Funding Policy, in addition to rate rebates, WorkSafeNB may distribute surplus above the 140% funding level to employers in the form of performance refunds. The board of directors has approved a $180.6 million performance refund for 2024.
WorkSafeNB maintains an Accident Fund to fulfill our obligation to provide benefits to injured workers and to cover the cost of administering the system. It is funded entirely by premiums paid by New Brunswick employers and the investment returns earned on those premiums.
The funding level is a measure of benefit security for injured workers that compares assets in the Accident Fund to the amount needed to meet these obligations. WorkSafeNB’s board of directors targets a funding level range of 115-125% to provide a high level of security for injured worker benefits.
No, the Funding Policy only considers performance refund when funding level is above 140%.
No, the funding level reported in 2023 Financial Statements factored in all estimated costs of future benefits to injured workers, including the improved wage replacement benefits that became effective July 1, 2024. The Funding Policy only allows for distributions of funds above a funding level of 140%.
Employers will be eligible for a performance refund if they:
You have until April 30, 2025, to send the missing payroll information to become eligible. If you report missing payroll after April 30, 2025, you will not be eligible for a performance refund.
Eligible employers with a performance refund exceeding $100, a Canadian address and who don’t have more than $100 owing over 90 days on October 31, 2024, will automatically be issued a cheque in mid-December for the total amount.
Those who are eligible for a performance refund of less than $100 or who have an address outside of Canada will receive a bill credit. Those with a balance owing over 90 days will have the performance refund applied to their balance owed in mid-December. If more than $100 of the performance refund remains after paying amounts owed, a cheque will be automatically issued a few weeks later.
You can log into MyServices to view your total credit applied to amounts owing.
Only those employers who are receiving a performance refund will be notified.
Each separately registered employer will receive one credit and/or cheque for all operations sharing the same employer number. A breakdown for each operations’ portion will be listed on the cheque stub.
The performance refund is distributed to the business, not the previous owners. If assets and the liabilities of the company were purchased and the business continues to operate, the business will be eligible. If only the building or equipment were bought, for example, and the business is no longer in operation, then that business is considered inactive and is not entitled to any performance refund.
No, only active businesses are entitled to a performance refund.
Eligible employers will be entitled their proportionate share of the $180.6 million based on 2023 net premiums excluding any levy paid for membership in a safety association. New Brunswick has safety associations in the continuing care, forestry and construction sectors.
If you believe information on October 31, 2024, was not captured accurately, please contact Assessment Services at assessment.cotisations@ws-ts.nb.ca.
No. The performance refund was based on the best information available on October 31, 2024. Any new information after that date will not lead to a retroactive adjustment. However, if you believe information on October 31, 2024, was not captured accurately, please contact Assessment Services at assessment.cotisations@ws-ts.nb.ca.
If you believe information on October 31, 2024, was not captured accurately, please contact Assessment Services at assessment.cotisations@ws-ts.nb.ca.
You may request a decision review by the Decision Review Office within 90 days of the first decision date. To file a review with that office please complete a decision review form which can be found on our website: https://www.worksafenb.ca/review-and-appeal/ or by calling 1 800 999-9775. Before submitting a request, all relevant information must already have been provided to Assessment Services. You must have a final decision from the Decision Review Office before you can appeal to the Workers’ Compensation Appeals Tribunal.
You may contact the Office of the Employers’ Advocates for help. They can be reached toll-free in New Brunswick at 1 844 530-0282. This is a free service provided by the Government of New Brunswick.
Yes, the amount of the refund is taxable since it’s a return of an employer’s tax-deductible expense. For more information, please contact the Canada Revenue Agency (CRA).
Funds above the 125% and below the 140% funding level are amortized over no more than 10 years and included as rebates in the rates.
Premiums required to cover the cost of benefits and administration for 2025 accidents yield a $1.24 average rate per $100 of assessable payroll. A rebate of $0.14 is applied to reduce the 2025 provincial provisional average rate to $1.10.
No, the Funding Policy only considers rate rebates when funding level is above 125%.
