Interest Payments Policy The WSIB has recently completed a review of the payment of interest on delayed WSIB benefits in cases where a worker/survivor has also received payment from a third party for the same entitlement period. The current policy requires that for claims registered on or after January 1, 1990, the WSIB pays interest on delayed (late) WSIB benefits. The intent of the policy is to place a worker in a similar financial position to what the worker would have been in if the WSIB benefits had been paid on time. In some cases, a worker receives monies from a third party (e.g., long term disability plan, employment insurance, social assistance) while he/she is waiting for a decision in their claim. Receipt of the third party payments can occur soon after the injury. When the WSIB claim is allowed, or when it is allowed on appeal, the worker is currently paid interest on the total delayed WSIB benefit. This includes the payment of interest on monies already received from a third party. The policy revision was made to ensure that the policy accurately and fairly places a worker in the same financial position that they would have been in if the WSIB benefits were paid without a delay. Effective August 1, 2004, interest will not be paid where there is no delay in receipt of third party payments. Interest will still be paid to workers if a portion of the delayed WSIB benefits exceeds the amount of the third party payment for the same entitlement period. In addition, if the third party payment was not paid on time, workers will receive interest on the total delayed WSIB benefit. The Interest Payments policy has also been updated to reflect the language of the Workplace Safety and Insurance Act and the correct legislative references. Read the revised Interest Payments policy (93k, pdf).