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Statutes of Newfoundland and Labrador 2018
AN ACT TO AMEND THE WORKPLACE HEALTH, SAFETY AND COMPENSATION ACT NO. 2
(Assented to December 5, 2018)
Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows:
1. Subsection 2(1) of the Workplace Health, Safety and Compensation Act is amended by adding immediately after paragraph (j) the following:
(j.1) "employer-sponsored pension plan" includes
(i) a pension plan that is registered with and certified by the Superintendent of Pensions under the Pension Benefits Act, 1997 or an equivalent Act of another province or of the Parliament of Canada, and
(ii) a pension plan that is established under an Act of the province;
2. Section 75 of the Act is repealed and the following substituted:
75. (1) Where a worker who is in receipt of extended earnings loss benefits on or after January 1, 2019 reaches the age of 65 years, the worker is entitled to receive a lump sum payment equal to
(a) 5% of extended earnings loss benefits paid to the worker, together with accrued interest; or
(b) 10% of extended earnings loss benefits paid to the worker, together with accrued interest, where the worker is or was at the time of the injury a member of an employer-sponsored pension plan.
(2) Notwithstanding subsection (1), a worker to whom subsection 74(5) applies is entitled to a lump sum payment equal to the amount specified in paragraph (1)(a) or (b) in relation to all benefits paid under subsection 74(5), together with accrued interest.
(3) For the purpose of subsections (1) and (2), the rate of interest is equal to the injury fund’s 4 year average net rate of return.
(4) Where a worker dies before receiving a lump sum payment under subsections (1) or (2), the lump sum payment shall be paid by the commission to those dependents of the deceased worker who the commission considers to be appropriate recipients.
3. This Act comes into force on January 1, 2019.