On eve of the Funding Review, this paper asks if the concern about the Board’s “unfunded liability” is a smokescreen for reducing compensation benefits to keep low rates for employers? A detailed look at the unfunded liability, funding options and alternatives to reducing benefits and services. Paper compares the government’s treatment of injured workers in times of recession, with cuts to cost of living adjustments that reduced the value of benefits by almost 30%, while employers’ rates were reduced and rebates increased. As the WSIB’s own data showed, if employers’ assessment rates had simply been kept at the 1996 level, by the year 2006 there would have been no unfunded liability.
/ / Backgrounder – Workers’ compensation finances – crisis or smokescreen?