The Workers Compensation Board (WCB) of PEI is pleased to announce that its estimated average assessment rate for Island employers will remain stable for 2025. This keeps the 2025 average rate at $1.25, one of the lowest in Canada.

Assessment rates are set annually by the WCB Board of Directors and are calculated per $100 of assessable payroll. The maximum assessable earnings, or MAE, is the maximum amount of earnings an employer would pay premiums on per worker. The MAE is reviewed yearly to account for wage increases in PEI. As of January 1, 2025, the MAE will be $82,900, up from $78,400 in 2024. As a result, more Island workers would have their full earnings eligible for coverage by the WCB.

“Keeping rates stable for Island employers means making sure that the overall compensation system remains sustainable,” said Jim MacPhee, Chair of the Workers Compensation Board. “The Board of Directors considered many factors in making its decision, including the expansion of psychological injury coverage starting January 1, 2025, managing potential market instability and anticipating program and service modernization expenses.”

The WCB’s funding policy is designed to protect employers with affordable, stable rates for coverage, and to make sure the accident fund remains sustainable. All Island employers will be advised of their individual assessment rates in December 2024. These rates are based on the cost of claims, the risks of workplace injury in their specific industries and the assessment rates by industry group. 

 Aussi disponible en français.