Also marking lowest assessment rate ever for province and one the lowest in the country
WorkSafeNB announces landmark achievements at its recent Annual General Meeting, marking significant financial benefits for New Brunswick’s workplaces. The organization reveals a reduction in the 2025 average assessment rate to $1.10, down from $1.18 in 2024—a historic low for New Brunswick and one of the lowest rates in Canada.
For the first time, WorkSafeNB will also issue performance refund cheques to eligible employers, a result of the organization’s exceptionally strong funded position. As of December 31, 2023, WorkSafeNB reports a funded position of 156.1%, far surpassing its target range of 115-125%. This robust financial standing allows WorkSafeNB to distribute a $180.6 million performance refund to New Brunswick employers, demonstrating both improved injury prevention outcomes and strong investment returns.
Tim Petersen, president and CEO of WorkSafeNB, underscores the value of this milestone for local workplaces. “This significant surplus in our funding means that for the first time in our history, WorkSafeNB will provide performance refunds to every eligible employer in New Brunswick,” he says. He credits the achievement to the collective efforts of workers, employers, and the organization itself, emphasizing New Brunswick’s commitment to safe workplaces.
With the 2025 assessment rate covering necessary benefits and administrative costs at an average of $1.24 per $100 of assessable payroll, the strong funding allows for a $0.14 rebate, reducing the rate to $1.10. WorkSafeNB’s board chair, Mel Norton, highlights the importance of this decrease in a time of rising costs. “WorkSafeNB is pleased to issue a performance refund in addition to providing one of the lowest average assessment rates in Canada,” he says, adding that the performance refund, paired with the reduced rate, will inject $180.6 million into New Brunswick’s economy, enhancing both business competitiveness and workplace safety.
WorkSafeNB also achieved key improvements for worker benefits, including a boost in wage loss benefits from 85% to 90% of net earnings as of July 1, 2024. The Maximum Annual Earnings (MAE) increased from $76,900 to $82,100, expanding wage coverage for injured workers. Petersen highlights this balanced approach, stating, “We’re proud of our balanced approach that serves both New Brunswick’s workers and employers, supporting a thriving and resilient workforce and economy.”
This dual focus on cost efficiency for employers and enhanced benefits for workers reflects WorkSafeNB’s commitment to maintaining a safe and supportive environment for New Brunswick’s workforce.
