Extent of financial support for independent financial advice
- Surviving spouses eligible for benefits on or after January 1, 1998 are required to elect one of two benefit plans within the specified time period as outlined in Policy 21-515 Benefits for Survivors. To assist the spouse in making an informed decision, WorkSafeNB pays for a consultation with a WorkSafeNB approved independent financial advisor.
- When an independent financial advisor is consulted, WorkSafeNB pays a rate, up to a maximum of $500, for all services provided by the advisor regarding the election of benefits.
Tax Implications
Costs reimbursed for financial advice, as outlined in this fee schedule, will be reported as non-taxable income on the CRA form, T5007.
WorkSafeNB – means the Workplace Health, Safety and Compensation Commission or "the Commission" as defined by the Workplace Health, Safety and Compensation Commission and Workers’ Compensation Appeals Tribunal Act.
