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WHSCC introduces enhanced interest-free deferred payment plan
Thursday, November 17, 2011


FOR IMMEDIATE RELEASE
November 17, 2011 

The Workplace Health, Safety and Compensation Commission (the Commission) announced today that it is introducing an enhanced deferred payment plan which will allow all employers to spread payments throughout the year, interest-free. 

Starting in 2012, all eligible employers will be able to spread equal payments more conveniently over the calendar year. The period from January to March is payment free for new assessment bills. For the remaining nine months employers may set up equal payment plans using pre-authorized debit. Employers can choose their assessment payment interval as weekly, bi-weekly, semi-monthly, monthly or quarterly.

“The expansion and improved flexibility of the interest-free payment plan, is good for business and good for the Province of Newfoundland and Labrador,” said the Honourable Paul Davis, Minister of Service NL, and Minister responsible for the Commission. “The improved plan will be of particular benefit for sectors with seasonal variations in cash flow, such as construction, fishing, logging and tourism, and now will offer the interest relief for all employers regardless of size.”

Commission Chief Executive Officer Leslie Galway said the enhanced plan is one of many improvements in client service offered by the Commission. “We are concentrating on improving service delivery in all areas of workplace health, safety and compensation,” said Ms. Galway. “Employers have been asking for greater flexibility and we are pleased to be able to provide it.”

The Newfoundland and Labrador Employers’ Council (NLEC) and the Canadian Federation of Independent Business (CFIB) support the enhanced deferred payment plan.

“The enhancement of the interest-free deferred payment plan shows recognition by the Commission of the financial impact that workers’ compensation employer insurance premiums have on employers in this province. Any steps they take to minimize this impact are well received by our organization.” said NLEC Executive Director, Richard Alexander.

“In the Year of the Entrepreneur, I am very happy to hear the Commission making an announcement that makes it easier for small business owners to pay their assessments,” said Bradley George, Director of Provincial Affairs for the Canadian Federation of Independent Business.

Serving over 17,500 employers and approximately 12,000 injured workers, the Commission is an employer-funded, no fault insurance system that promotes safe and healthy workplaces, provides return-to-work programs and offers fair compensation to injured workers and their dependants.  

FOR FURTHER INFORMATION, PLEASE CONTACT:
Chris Flanagan, Director of Communications
Telephone: 709-778-1590 or 709-728-7869  

Workplace Health, Safety and Compensation Commission
146-148 Forest Road • St. John’s • NL • A1A 3B8
Telephone (709) 778-1000 •1-800-563-9000
www.whscc.nl.ca

 


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