Hello Chasers,
The Victorian Government has confirmed that the average premium rate for 2026/27 will remain at 1.80%, providing certainty for businesses as they plan for the new financial year.
However, the average rate does not mean every employer will pay the same premium. WorkCover premiums are calculated based on:
- Your industry and associated risk profile
- The size of your business
- Your claims experience and claims costs
Businesses with strong safety records and fewer claims may benefit from lower premiums, while businesses with higher claims costs may experience different outcomes.
Payment Options and Discounts
Employers have several options when it comes to paying their 2026/27 WorkCover premium.
Receive a 5% Discount
Pay your annual premium in full by 17 August 2026 to receive the maximum 5% discount.
Receive a 3% Discount
If you need more time, paying the annual premium in full by 1 October 2026 will provide a 3% discount.
Pay by Instalments
Businesses can also choose to spread payments over the year through:
- 10 monthly instalments, or
- 4 quarterly instalments
While no discount applies to instalment arrangements, they may help with cash flow management.
Important Dates Before Renewal
Before the new policy year begins, employers should review their remuneration figures carefully.
Review Actual and Estimated Remuneration
Before 1 July 2026, employers should:
- Ensure actual remuneration for 2025/26 is within 20% of the original estimate to avoid penalties.
- Review and update estimated remuneration for 2026/27.
If no estimate is provided, WorkSafe will apply an indexed increase of 4.75% to the previous figure.
Claims Statements Available from June
Employers with claims affecting their premium calculation will be able to access claims statements from June, allowing time to review information before renewals are issued.
WorkCover Renewals Begin in July
WorkCover renewal notices for the 2026/27 policy year will begin being issued from the week commencing 6 July 2026.
Renewals will be delivered either:
- Via email, or
- By post
Employers can also access premium details online through WorkSafe Victoria’s Online Employer Services (OES).
Managing Your Premium Online
Registering for Online Employer Services (OES) allows employers to:
- Forecast renewal premiums
- View claims statements
- Access renewal notices and invoices
- Pay premiums online
Employers can also obtain a Certificate of Currency, provided there are no outstanding premiums on the account.
To obtain a certificate, you’ll need:
- Your WorkCover Employer Number (WEN)
- Your postal address postcode
- An email address
What Employers Should Do Now
With renewals approaching, now is a good time to:
✔ Review actual and estimated remuneration figures
✔ Check claims information and statements
✔ Consider which payment option best suits your cash flow
✔ Register for Online Employer Services if you haven’t already
✔ Ensure there are no outstanding premiums if you require a Certificate of Currency
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