Funding Policy Statement

Funding Policy Statement

Effective Dates

September 26, 2005 - June 30, 2008

Policy Code

FN-07

General Information

Section 1 (c) of the Workers' Compensation Act, R.S.Y. 2002 (the Act) establishes that the Yukon Workers' Compensation Health and Safety Board of Directors is responsible for maintaining a solvent compensation fund managed in the interest of workers and employers.

Subsection 58 of the Act provides for the use of the Compensation Fund and the ability to create and use a contingency reserve.

Purpose

This policy guides the Board of Directors to ensure a sound financial position is maintained by the Board of Directors, that fiduciary responsibilities are in accordance with the Act and that the Board of Directors exercises prudence, discretion and intelligence.

Funding

May 13, 1996 - September 26, 2005 | FN-07 | Finance and Administration