The 2022 maximum annual earnings is $94,320.
Maximum annual earnings from past years:
2021 - $91,930
2020 - $90,750
2019 - $89,145
2018 - $86,971
2017 - $85,601
2016 - $84,837
About the maximum annual earnings
The maximum annual earnings is sometimes referred to as “maximum assessable earnings” or “maximum wage rate”. The maximum assessable earnings amount is relevant to employers. It establishes a cap on the premiums they pay.
The maximum annual earnings is relevant to workers. It sets a ceiling on the amount injured workers will receive in loss-of-earnings benefits.
The maximum annual earnings is set by the Workers' Safety and Compensation Act and is adjusted annually by an indexing factor.
The maximum assessable earnings amount is always equivalent to the maximum annual earnings.
The maximum annual earnings sets a maximum amount from which earnings loss benefits are calculated.
Workers who are receiving loss of earnings benefits receive 75% of their average pre-injury earnings, tax-free. A worker who earns $45,000 per year would receive 75% of $45,000, pro-rated to the amount of time they were off work. A worker whose average pre-injury earnings are $100,000 per year would receive 75% of the current maximum annual earnings, not 75% of $100,000.
The maximum assessable earnings amount limits the premiums employers pay, regardless of what individual workers’ salaries are. An employer who pays a worker $45,000 per year is assessed on the $45,000. An employer who pays a worker an annual salary of $100,000 is assessed on the current maximum assessable earnings, not the worker’s $100,000 salary.