Safe Employers in Ontario Receiving up to $1.5 Billion in WSIB Surplus Funds

Last week, the Ministry of Labour, Training and Skills Development announced that Ontario's safe employers are receiving a rebate of up to $1.5 billion as Workplace Safety and Insurance Board (WSIB) surplus funds are returned under the Working for Workers Act, 2021.

The rebate will return approximately 30 percent of their annual premium payments in 2019 or 2020, whichever is higher. For a business with 80 to 125 employees, this could mean receiving approximately $28,000 to reinvest in their business and workers. 

The WSIB is still determining how much each eligible employer will receive. Eligible businesses will have their credit amount displayed on their statement of account.

Businesses must meet all the following eligibility requirements to receive a rebate of surplus funds in April 2022:

• have an active account as of January 31, 2022
• had premium obligations in either 2019 or 2020
• have not been convicted of a Workplace Safety and Insurance Act or an Occupational Health and Safety Act offence in a proceeding under Part III of the Provincial Offences Act, in 2021 or in 2022 up to and including the date the WSIB issues rebates
• have not been convicted in more than one such proceeding between 2017 and 2022 up to and including the date the WSIB issues rebates

This distribution comes only four years after eliminating the board's historic unfunded liability. The OGCA has been in discussions with the government about returning excess WSIB funds to employers for some time. Today, the WSIB is in its strongest financial position in its history and, as of September 30, 2021, has $6.4 billion in reserve.

For more information on the WSIB rebate, you can read the MLTSD News Release or the FAQ on the WSIB Surplus rebate for businesses page.