BOD Decision -2007/01/23-02 - Commutations
At its meeting on January 23, 2007, the Board of Directors (“BOD”) approved amendments to policy items #45.20 and #45.30 in Volumes I and II of the Rehabilitation Services and Claims Manual (“ RS&CM ”), which set out how WorkSafeBC may commute all or a part of a worker's pension (Volume I), or permanent disability award and retirement benefit (Volume II), into a lump sum payment. The result was the deletion of both full and partial term commutation methods from policy. Workers may still receive a full or partial commutation for the life of their awards.
The policy amendments took effect on March 1, 2007 and apply to all applications for commutations made on or after March 1, 2007.