Journal of Commerce | DCN-JOC News Services | July 15, 2025
RICHMOND, B.C. — WorkSafeBC has announced next year $570 million in surplus funding will be handed back to B.C. employers, as the preliminary average base premium rate for 2026 will remain at $1.55 per $100 of assessable payroll.
Although subject to final approval from the WorkSafe BC board, the organization anticipates this will be the ninth consecutive year that the average base rate has remained at this level.
Between 2019 and 2026, WorkSafeBC projects $3 billion of surplus funds will have been returned to employers by pricing premium rates below the cost to run the workers’ compensation system.
The preliminary average premium rate of $1.55 will be 15 per cent less than the projected average cost rate of $1.83, with the difference funded by the surplus, states a release. “Without the surplus, the average premium rate would need to increase to match the average cost rate,” it adds.
WorkSafe also states in 2026, 39 per cent of employers in B.C. are projected to experience a decrease in their industry base rate, 47 per cent will see their industry base rate increase and 14 per cent will see no change.
“Given the economic uncertainties facing the province, WorkSafeBC has made changes to the maximum increases and decreases in 2026 rates for B.C. industries, which have normally been capped at 20 per cent,” the organization adds. “For 2026, rate increases will be capped at 10 per cent, while rate decreases will be allowed to reach up to approximately 40 per cent. This change is intended to provide greater rate stability for B.C. employers during challenging economic times.”
Rate information sessions with stakeholders will take place this summer, with general information sessions scheduled for July 15, 16 and 17.
More details are posted at worksafebc.com.
WorkSafeBC’s Board of Directors will finalize the 2026 premium rates in November.