The Hole in Ontario’s Budget: WSIB’s Unfunded Liability

Summary:
Page Title:The Hole in Ontario’s Budget: WSIB’s Unfunded Liability – C.D. Howe Institute
Article Title:The Hole in Ontario’s Budget: WSIB’s Unfunded Liability
URL:https://cdhowe.org/publication/hole-ontarios-budget-wsibs-unfunded-liability/
Published Date:March 22, 2012
Accessed Date:February 15, 2025

Ontario faces a $19.7 billion unfunded liability at its Workplace Safety Insurance Board (WSIB) based on a fair-value accounting approach, according to a report from the C.D. Howe Institute. In “The Hole in Ontario’s Budget: WSIB’s Unfunded Liability,” authors Colin Busby and Finn Poschmann say the WSIB,  which levies employer premiums intended to fund benefits for employees injured in the workplace, has a problem that needs addressing: the WSIB’s pace of revenue collection and asset accumulation has not matched growth in current and expected benefit entitlements.

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