PEI's workers' compensation board continues to be over-funded and will once again be issuing a "surplus distribution" to Island employers in 2018. In total, $22 million in rebate cheques will be arriving in the mailboxes of PEI employers.
After many years of struggling to ensure workers' compensation was properly funded and benefits were sustainable over the long-term, WCB has been fully-funded for a number of years now meaning sufficient money has been set aside to pay out all current claims over the long term. With the help of strong investment returns on that pot of money, the board has the ability to return part of the money collected from employers this year.
Rates, on average, are also going down 2 cents in 2019. Employers can expect to receive their business' rate for 2019 in December 2018.