|Issue No 29||03 September 1999|
Compo Stats Donít Justify Slash and Burn
Unions have endorsed key aspects of a savings plan for the state's workers compensation scheme, amidst news that scheme performance is improving.
Actuary to the Workers Compensation Advisory Council, David Zaman, has estimated that the average scheme performance has improved from 3.1 per cent of average payroll to around 2.8 per cent.
This means that after years of decline, premiums are now covering the costs of the scheme.
The news comes as the Advisory Council proposes a range of savings measures, designed to rein in the scheme's deficit and ensure that the good performance continues.
The package, which was requested by the Carr Government earlier this year, includes:
- increased resources for occupational health and safety programs to be run through the new Industry Reference Groups.
- targeting of poor performing employers
- an improved medical model, including educating medical practitioners about early intervention and return to work procedures.
- increased standards on insurers to ensure they meet performance criteria, including on the spot fines.
- - strengthening the mandatory provisions for employers to provide suitable employment.
- a new method for provided modified duties through a wage subsidy where the employer is unable to provide them - particularly in small businesses.
The package is estimated to safe in excess of $300 million per annum.
Labor Council secretary Michael Costa says the savings would assist the scheme without reducing benefits. But he warned that any attempt to erode workers entitlements would not be acceptable to the union movement.
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Last Modified: 15 Nov 2005