WSIB to eliminate unfunded liability charge in 2020

More than 220,000 businesses in Ontario to see premiums reduced

WSIB to eliminate unfunded liability charge in 2020
The WSIB will officially eliminate its unfunded liability charge beginning in January 2020. Shutterstock

Ontario's Workplace Safety and Insurance Board (WSIB) is ending its unfunded liability charge, leading to a $607-million reduction in costs to business, according to Minister of Labour Monte McNaughton.

"This is good news for employers and employees across the province," he says. "By eliminating the unfunded liability, the WSIB has ensured over 222,000 businesses across the province will see premiums reduced."

The WSIB will officially eliminate its unfunded liability charge beginning in January 2020.

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