Consumer Prices Index (CPI) – Annual Increase – 2023 (PRO 13/2022)
Section 69 of the Act requires that compensation amounts be adjusted annually by the percentage increase in the Consumer Price Index (CPI). The basis for any increase is the average of percentage increases in the Regina and Saskatoon All-Items CPI for the 12 months ending on November 30 in each year. For 2023, where applicable, entitlements will be increased 6.7% due to the CPI increase.
Industry Premium Rates – 2023 (POL 12/2022)
This policy is an annual update effective January 1. In October 2022, a provisional premium rate consultation session was held with employers and employer associations. Taking into consideration the feedback received from these meetings, the Board Members have approved the 2023 premium rates as listed in this policy.
Effective January 1, 2023, the maximum wage rates are as follows:
Any adjustments in the calculation of loss of earnings because of an increase in the maximum wage rates will occur at the worker’s annual benefit review.
Maximum Assessable Wage Rate – 2023 (POL 10/2022)
Under Section 137(2) of the Act, the WCB is required to set a maximum assessable wage rate for payroll reporting and assessment purposes. The 2023 maximum assessable wage rate will be $96,945.
Minimum Compensation (Section 75) – 2023 (PRO 09/2022)
This procedure is an annual update based on the changes to Saskatchewan’s average weekly wage as of June. In accordance with Section 75 of our Act, this amount is the minimum compensation an injured worker would receive if they are totally unable to work. Effective January 1, 2023, the minimum compensation will not be less than $564.95 per week, or the actual amount of the worker’s average earnings.
Minimum Average Weekly Earnings (Section 70(5)) – 2023 (PRO 08/2022)
This procedure is an annual update based on the changes to Saskatchewan’s average weekly wage as of June. It establishes the minimum average weekly earnings for workers injured on or after January 1, 1980 and who have been receiving earnings loss compensation for more than 24 months. Effective January 1, 2023, the minimum average weekly earnings will not be less than $753.27.
Section 70(5) of the Act is also used to set the minimum assessable for elected officials. For 2023, the minimum assessable for positional coverage will be $39,170.
Default in Assessment Payment (PRO 12/2019) – 2023
In accordance with Section 8 of the General Regulations, the Bank of Canada’s interest rate effective October 31 will be added to 6% to calculate the penalty to be applied when an employer fails to pay premiums required by the Act. Effective January 1, 2023, the annual penalty will be 10.00% with a monthly rate of 0.83%.
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