Eligible businesses will receive surplus rebates in April 2022, as our insurance fund now has a surplus greater than our necessary reserve due to strong operational, financial and investment management.
The WSIB surplus allows for up to $1.5 billion in total to be rebated to eligible Schedule 1 businesses, recognizing the important role Ontario businesses play in funding the no-fault work-related injury and illness insurance system, while protecting the WSIB’s ability to help people who have suffered an injury or illness with a safe, timely and lasting recovery and return to work today and into the future.
The WSIB indicates they know many Ontario businesses suffered greatly with the impact of the COVID-19 pandemic. Rebating surplus funds can help assist business’ post-pandemic recovery as well as support investments in health and safety, such as joining the Health and Safety Excellence program.
Eligibility criteria
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
In recognition of the significant impact the COVID-19 pandemic has had on many businesses, a business’s rebate will be approximately 30 per cent of their premiums paid in 2019 or 2020, whichever is higher. Eligible businesses will have their credit amount displayed on their statement of account.
