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Workers Compensation Operational Fund

This page provides a summary of the contributions to and expenditure from the Workers Compensation Operational Fund since SIRA’s inception in 2015.

The actual expenditure from the Workers Compensation Operational Fund (WCOF) administered by SIRA is summarised in the table below. 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 into the WCOF since the inception of SIRA from both the NI, TMF, self insurers and specialised insurers is summarised as follows:

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.