In releasing its 2024 employer assessment rates, WorkSafe New Brunswick announced that it has reduced the average annual rate to $1.18 per $100 of assessable payroll. This rate will be the lowest in Atlantic Canada and the second lowest in the country.
WorkSafeNB’s funding position has reached 147.7%, which is well above the target range of 115%-125%. As a result, WorksafeNB will be distributing a portion of the surplus through a $0.21 credit. This credit is included in the $1.18 average rate.
RCC members will be able to access their individual employer assessment rate in early November 2023. RCC members should be aware that due to the surplus, WorkSafeNB has also recommended legislative changes to improve benefits for workers.
For questions or more information contact
Director, Government Relations (Atlantic)