July 3, 2025
WorkplaceNL reports a lower lost-time injury rate and remains fully-funded
St. John’s, NL – WorkplaceNL’s 2024 Annual Performance Report has been tabled with the House of Assembly, outlining that it met its strategic objectives and ended the year in a better-than-expected funded position.
The 2024 lost-time injury rate reached another historic low at 1.2 per 100 workers (1.3 in 2023 and 1.4 five years ago in 2020) – and is one of the lowest in Canada.
As of December 31, 2024, the Injury Fund was fully-funded at 131.6 per cent (121.0 per cent funded in 2023 and 125.5 per cent funded five years ago in 2020), due to better-than-expected investment returns during 2024. WorkplaceNL is cautious that fluctuations in global financial markets may impact Injury Fund investments, so it will continue to maintain a long-term view and diversified investment portfolio to mitigate impacts.
As it costs more to cover a claim – primarily due to benefit changes for workers and inflation – the average assessment rate paid by employers in 2024 increased to $1.73 per $100 of payroll ($1.69 in 2023). The rate contains an average $0.21 discount to reduce the surplus in the Injury Fund over 15 years, which started in 2019. The discounted average assessment rate remains at $1.73 for 2025.
In 2024, results from client service surveys showed that the majority of workers with a claim and employers were satisfied with the quality of service received from WorkplaceNL.
“Our results show meaningful progress in building physically and psychologically safer workplaces, in preventing injuries and in how we serve our worker and employer clients,” said John Peddle, Chair of the Board of Directors, WorkplaceNL. “They also show that our stakeholder-agreed funding policy guides us to responsibly manage the Injury Fund in turbulent financial markets.”
He added, “We are working with workers, health care providers and employers to focus on what workers can do at work during their recovery after a workplace injury or illness. Preventing injury and supporting a worker’s return to work while recovering, where appropriate, supports both workers and employers and helps to manage rising claims costs.”
WorkplaceNL is committed to maintaining a sustainable, employer-funded, no fault workers’ compensation system to support injured workers and provide coverage for employers for years to come.
In early 2025, WorkplaceNL consulted with stakeholders and the public for their feedback on priorities and is now using that input as it develops its 2026-28 strategic plan. WorkplaceNL will share that plan on its website.
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Learn more
WorkplaceNL 2024 Annual Performance Report
WorkplaceNL seeking the public’s input on 2026-28 strategic plan (press release, February 10, 2025)
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About WorkplaceNL
Serving approximately 215,000 workers and 17,500 employers, WorkplaceNL administers an employer-funded, no-fault workers’ compensation system that promotes safe and healthy workplaces, provides return-to-work programs and offers compensation to injured workers and their dependents.
Media contact
Carla Riggs, Director, Communications and Engagement
709.778.1590 or [email protected]