Subject to final approvals by board, this will be the eighth year in a row that the average base rate has remained at this level
WorkSafeBC is maintaining its 1.55 per cent average base premium rate for the year 2025.
This will be the eighth straight year that the average base premium rate has stayed at the level.
The rate, however, is still subject to final approval by WorkSafeBC’s board of directors. The board will finalize the 2025 premium rates in October of this year.
Annual base premium rates are driven by provincial injury rates, return-to-work performance and the resulting cost of claims, as well as investment returns, explained WorkSafeBC.
In 2025, 59 per cent of employers in B.C. are projected to experience a decrease in their industry base rate. Meanwhile, 33 per cent will see their industry base rate increase, and eight per cent will see no change.
“WorkSafeBC’s strong financial position in recent years has allowed the average base premium rate to be kept below the average cost of claims, with the difference funded from surplus funds,” said WorkSafeBC. “The preliminary average base rate of 1.55 percent for 2025 will be less than the expected cost rate of 1.78 percent.”
WorkSafeBC projects that, between 2019 and 2025, $2.5 billion of surplus funds will have been used to keep the rates paid by employers below the cost of claims.
Looking forward, WorkSafeBC sees increasing premium rates due to upward claim-cost pressures and a reduced surplus.
