Workers Compensation Operational Fund expenditure
Following media commentary regarding questions about the funding for workers compensation regulation activities, and the use of the Workers Compensation Operational Fund (WCOF) levies, SIRA is publishing here a table summarising WCOF expenditure from 2015.
It should be noted that the most recent year's figures have not yet been audited by the NSW Audit Office. It should also be noted that the 2015 figures represent a transitional establishment phase, and include WorkCover finances up until 31 August 2015 and then SIRA’s finances from when it was established on 1 September 2015.
WCOF Funded Programs | 2015-16 | 2016-17 | 2017-18 | 2018-19 | 2019-20 |
|---|---|---|---|---|---|
Actual | Actual | Actual | Actual | Actual | |
$'000 | $'000 | $'000 | $'000 | $'000 | |
SafeWork NSW | 107,555 | 112,105 | 122,847 | 132,903 | 127,995 |
ILARS | 44,034 | 49,864 | 50,465 | 57,449 | 63,050 |
SIRA | 77,302 | 72,364 | 60,951 | 57,102 | 52,533 |
WCC | 21,828 | 23,090 | 26,283 | 27,153 | 25,285 |
WIRO | 4,898 | 6,582 | 7,343 | 10,559 | 10,967 |
Total | 255,617 | 264,005 | 267,889 | 285,166 | 279,830 |
The actual levy contribution to the WCOF (since the inception of SIRA) from the Nominal Insurer, Treasury Managed Fund, self-insurers and specialised insurers is summarised below:
WCOF Levies | 2015-16 | 2016-17 | 2017-18 | 2018-19 | 2019-20 |
|---|---|---|---|---|---|
Actual | Actual | Actual | Actual | Actual | |
$'000 | $'000 | $'000 | $'000 | $'000 | |
TMF Contributions | 16,981 | 18,626 | 19,443 | 18,527 | 19,530 |
Nominal Insurer Contributions | 177,504 | 213,707 | 220,604 | 236,175 | 232,915 |
Self Insurers | 14,382 | 15,272 | 14,832 | 16,043 | 17,321 |
Specialised Insurers | 4,691 | 6,907 | 7,693 | 8,026 | 8,367 |
Total WCOF Levies* | 213,558 | 254,512 | 262,572 | 278,771 | 278,133 |
* SIRA has other sources of income including workers compensation S.156 recoveries, infringement notices and interest. | |||||
Further information
SIRA is committed to the transparent and accountable regulation of the NSW workers compensation scheme. We regularly release scheme data, monthly reporting and statistical bulletins.
- Learn more about the Workers Compensation Operational Fund
- Read other NSW workers compensation data and reports