WorkplaceNL holds assessment rate steady

Posted: October 29, 2024 8:30 am
By Web Team

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WorkplaceNLā€™s 2025 average assessment rate will remain stable at $1.73 per $100 of assessable payroll, which includes a temporary $0.21 discount.

Over half of employers will have a lower or the same assessment rate in 2025, while 38 per cent will have a higher rate.

Employers can lower their assessments while creating safer workplaces.

As well, the Maximum Compensable and Assessable Earnings will increase by 3.1 per cent for 2025, from $76,955 to $79,345. The MCAE is the maximum earnings insured per worker.

The temporary discount, which started in 2019, remains to address a surplus in the Injury Fund.

Notices of assessment rates for employers will be online this week.

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