The WSIB recognizes that it may be difficult to achieve general consensus on a transition plan owing to the diversity of its stakeholders, and their particular circumstances. To support the discussion around an appropriate transition plan, the WSIB is proposing a set of key considerations for stakeholders' review and general acceptance. The WSIB commits to engaging stakeholders at a future point in time on the consideration of transitional features, of any potential Rate Framework reforms.
The following guiding principles would form the basis for adopting an approach to transitioning employers to their Employer Target Premium Rate:
- Gradual, incremental movement towards Class Target Premium Rates;
- Utilizing the decreasing/eliminated UFL to support movement towards Employer Target Premium Rates;
- Balance between degree of premium rate increases and decreases;
- Gradual, incremental movement towards Employer Target Premium Rates; and
- Consideration for economic circumstances and potential legislative amendments.
The WSIB would like to hear from you! Please email us your questions or comments about the proposed preliminary Rate Framework to email@example.com.
For more information, see Paper 5: A Path Forward (PDF)