(Halifax, N.S.) – One year after the release of the Workers' Compensation Review Committee Report, WCB Nova Scotia says improved financial footing will ensure the system has the stability and capacity to better support Nova Scotians injured at work and employers in the years ahead.

As of year-end 2024, WCB's funded position was 106.7%. This milestone reflects solid investment vision and management of the WCB's $2.8 billion in assets, which now surpasses the $2.6 billion in liabilities. The progress is also due to the declining impact of workplace injury in our province – and the collective accountability of Nova Scotia's employers, workers, and system partners to prevent injuries, and support safe, timely return to work.

“A strong workers’ compensation system is good for everyone,” says Nolan Young, Minister of Labour, Skills and Immigration. “This milestone shows crucial improvements that ensure our province has the ability and the resources to better support Nova Scotians when they are injured at work.”

As of June 2025, the reported injury rate dropped to 1.31 time-loss injuries per 100 covered workers. Over three quarters of workers are returning to work within 90 days, the best outcome in many years.

"We are pleased that the changes we are making at WCB are improving the system for all Nova Scotians. Continued success will allow us to better support workers and employers in the future," says Karen Adams, CEO, WCB Nova Scotia.

For 2026, the average employer assessment rate will remain unchanged at $2.65 per $100 of assessment. Employers will be able to access their individual assessment information for 2026 online in early September.

Looking ahead

The 2023-2024 Workers' Compensation Review Committee identified key opportunities for system enhancement, including improved accountability, stronger return-to-work outcomes, and better benefits for Nova Scotians injured at work. 

Guided by our long-term strategic plan, WCB Nova Scotia remains focused on its three strategic pillars: Preventing workplace injuries, supporting safe and timely return to work, and delivering exceptional service. The plan aims to return the equivalent of 1,000 positions to Nova Scotia's workforce by 2030. That means more Nova Scotians working to build homes, care for patients, maintain roads, and keep communities running.

To see the full text of the 2024 Annual Report and Q1 2025 Community Report, and to learn more about the WCB's progress toward our strategic goals, visit wcb.ns.ca/accountability.

Note: Financial values reported in this news release reflect consistent reporting methods used to calculate the funded ratio and for setting employer rates (i.e., on a funding basis). New international financial reporting standards, developed primarily for the commercial insurance industry, require a slightly different methodology for financial reporting purposes.

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Media Contact

Hillary MacEachern, Communications Manager 
Hillary.maceachern@wcb.ns.ca
902-399-6934