In 2017, the maximum assessable earning is $76,086.

Employers are asked to provide a payroll estimate at the beginning of the year so the WCB can determine employers’ premiums. The payroll estimate should always be an accurate reflection of what an employer will be paying to their workers in the year. Employers only need to report wages for each worker up to the maximum assessable earnings each year. For example, if you have a worker who receives a T4 for $100,000, you are only required to report $76,086 for that worker. Make sure that this estimate is always current because employers will be charged a penalty if this is underestimated. Employers can revise their payroll estimate at any time throughout the year.

Contact Employer Services employerservices@wcbsask.com or 1.800.667.7590 (toll free) if you have further questions.

Workers

How does the maximum assessable earning affect me?

The Saskatchewan Workers’ Compensation Act, 2013 (the Act) states that the maximums are to be adjusted every year according to the percentage change in Saskatchewan’s average weekly wage as reported by Stats Canada.

The Act references two maximum wage rates: one for injuries that happened before January 1, 2014 and a second one for injuries that happened after January 1, 2014.

What is the maximum wage rate for injuries that happened before January 1, 2014?

$59,127. Any adjustments in your weekly earnings because of an increase in the maximum wage rate will occur during your annual benefit review date.

What is the maximum wage rate for injuries that happened on or after January 1, 2014?

$76,086. This is the maximum wage rate that includes an additional index factor. As per our new legislation, the maximum wage rate for an injury that happens on or after January 1, 2014 will be adjusted annually in steps so that the maximum wage rate per year for those workers is, by 2019, equal to 165 per cent of Saskatchewan’s average weekly wage. Any adjustments in your weekly earnings because of an increase in the maximum wage rate will occur during your annual benefit review date.

Will minimum compensation & our minimum average weekly earnings change?

Yes. The minimum compensation for workers who are totally unable to work has increased to $490.50/week. The minimum average weekly earnings for workers who have received benefits for at least 24 consecutive months has increased to $654.00/weekly.

Why is my January cheque the same as in 2016? I thought it should go up in 2017.

Any adjustments in your weekly earnings because of an increase in the maximum wage rate will occur during your annual benefit review date.

You may also see a change on your cheque based on your net income because of federal or provincial tax changes.

Do my CPP disability benefits affect my cheque?

Canada Pension Plan (CPP) provides disability benefits to people who have made enough contributions to the CPP and who are disabled and cannot work at any job on a regular basis. You may be entitled to both wage loss benefits under the Act and CPP disability benefits for the same period of entitlement for the same work injury. If you are approved for CPP disability benefits, 50 per cent of these benefits are considered wages that you are capable of earning and are, therefore, used in calculating your wage loss starting on your first annual benefit review. Because the CPP disability benefits increase every year, you may see a decrease in your wage loss benefits.

For more information, please email askwcb@wcbsask.com or phone 1.800.667.7590 (toll free).

2018-05-28T16:43:22+00:00 Dec 13, 2016|Comments Off on WCB’s 2017 Assessable Earnings