Nova Scotia Workers' Compensation Board Cuts Rates 15% for First Time in 40 Years
The Workers' Compensation Board of Nova Scotia announced a 15% rate reduction, lowering the average employer rate to $2.25 per $100 of assessable payroll for the first time in over 40 years. The cut is driven by record-low workplace injury rates and improved financial health, with the WCB now 117% funded compared to 27% in the early 1990s. The reduction will return approximately $75 million to the economy and includes indexing worker benefits to inflation.
The Workers' Compensation Board of Nova Scotia announced Wednesday that it is cutting employer insurance rates by 15%, lowering the average rate to $2.25 per $100 of assessable payroll—the first reduction in more than 40 years. The decision reflects Nova Scotia's record-low workplace injury rates and improved worker recovery outcomes, with injured workers returning to work faster and safer than ever. The WCB attributes its financial turnaround to improved monitoring and injury prevention, transforming the organization from 27% funded in the early 1990s to 117% funded today. The rate cut will inject approximately $75 million back into the economy, and workers will now see their benefits indexed to inflation. However, despite this reduction, Nova Scotia maintains the highest employer assessment rates in Canada, which WCB leadership acknowledges requires further improvement.
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Workers’ Compensation Board of Nova Scotia cutting rates for 1st time in 40 years
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