The WSIB funding is being reviewed for major overhauls. Professor Harry Arthurs is charged with the review and recommendations. This review will make sweeping recommendations on how the WSIB is funded, or, put into simple terms: experience rating will change; SIEF may go; rates will increase.
The committee will not be addressing worker benefits, only funding. The construction sector will likely face a cost burden that could cripple some employers.
The WSIB Task Force represents the construction industry and has produced a very detailed submission to be presented at a Hearing to take place:
33 Gerrard St. West, Toronto, Ontario
April 28th, 2011 – 2:25 @ p.m.
Please spread the word to encourage others to attend and fill the audience. Details can be found at: http://www.wsibfundingreview.ca/faq.php
If we do not support the Task Force recommendations, the results could be very costly.
The independent third party review is part of the WSIB’s response to concerns about the size of its unfunded liability (UFL). This independent review will consult with the public on ways to make the WSIB a more financially sustainable system for the future. The goal of the funding review is to establish a dialogue and seek input from workers, labour, employers and employer associations on a range of public policy issues relating to the WSIB’s financial future.
Professor Harry Arthurs has been invited to Chair the Funding Review. Professor Arthurs is a former Dean of Osgoode Hall Law School and former President of York University. He has extensive experience as a labour lawyer and mediator and recently led a review of Ontario’s workplace pension system.
Professor Arthurs will be advised by a small committee to provide their insights and varied perspectives on the social and economic issues that arise in the context of Ontario’s workplace safety and insurance system. Members of the Advisory Committee are:
- Maureen Farrow – is an external advisor on the WSIB Board of Directors’ Investment Committee. She is President of Economap Inc., a Director of the Equitable Life Insurance Company of Canada.
- Buzz Hargrove – is the former National President of the Canadian Auto Workers. He is currently serving as a Distinguished Visiting Professor at Ryerson University’s Ted Rogers School of Management.
- John O’Grady – is Chair of the Institute for Work and Health. As a consulting economist, he specializes in labour market and industry analysis.
- John Tory – is a former leader of the Progressive Conservative Party of Ontario. He is now a broadcaster and volunteer Chair of the Toronto City Summit Alliance.
The Chair of the Funding Review will meet with stakeholder groups and will conduct public hearings across the Province. In addition, interested parties who prefer not to make a public presentation or are unable to attend a session will be able to submit their ideas in writing for improving the WSIBs financial position. The WSIB Funding Review website is also an excellent way to contact the Funding Review. The website address is www.wsibfundingreview.ca or you can email the Review at: firstname.lastname@example.org.
Posted by Guy St-Gelais