At A Glance:

Current Rate 2001-2002 per $100 of earnings(GST inclusive)	New Rate 2002-2003	ACC Recommended Rate	Department of Labour Recommended Rate
$1.10	$1.20	$1.10	1.20

General

• Earners' levy meets the costs of non-work injuries to earners, and also residual claims from 1992 - 1999 which occurred after 01 April 2002.
• Levy is collected by IRD and is incorporated in the PAYE tables.

Reason for Increase

• Main reasons for this increase are a higher number of new claims and the need to build-up reserves in this account.

History of Account

• This account was established in 1992.
• The Earners' Account is relatively stable. However, ongoing claims are increasing as the account is still in the growth phase - long-term claim entries exceed the number of exits.