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CHARLOTTETOWN, P.E.I. — The Employees Compensation Board of P.E.I. has introduced a rise within the profit compensation fee for staff injured on the job.
The board introduced that compensation charges have elevated 5 factors to 90 per cent of internet earnings from 85 per cent.
The quantity offered for funeral bills for staff killed on the job has additionally doubled to $15,000 from $7,500. Moreover, the lump-sum profit paid to a employee’s household is growing to 100 per cent from 40 per cent.
In a launch, the board known as the profit will increase “probably the most important profit enhancement bundle for injured staff within the final decade.”
“These enhancements will cut back the monetary affect of accidents and fatalities and help injured staff with the rising value of dwelling,” stated board chair Jim MacPhee.
The profit will increase comply with amendments to the Employees Compensation Act, which handed unanimously in the course of the fall 2022 sitting of the legislature.
The subsequent enhancement for staff will come into impact in July 2023, with a rise to the cap on long-term profit value of dwelling changes. That will probably be adopted in 2024 with an adjustment to the calculation technique for max annual earnings to maintain tempo with P.E.I. wage progress.