This is our main corporate report to stakeholders and members of the South Australian community. It includes:

• full financial details of the SA Workers Rehabilitation and Compensation Scheme
• a simplified financial statement
• statements from the Chair and CEO
• workplace claims statistics.

Year in brief

• WorkCoverSA collected more in levies, received fewer claims and the Scheme’s claims performance improved, but investment returns were significantly reduced during 2007-08.

• Scheme funding at 30 June 2008 was 60.8%
• WorkCoverSA’s unfunded liability grew to $984 million, after a loss of $140 million
• WorkCoverSA achieved $61.8m against our strategic plan target of $51.5m actuarial release
• WorkCoverSA’s investment portfolio is now more than $1.33 billion, but in 2007-08 there was a negative return on investment of 5.1%
• Levy revenue was $621 million
• The average levy rate remained at 3.00%
• There were 20,840 claims incurred from workers employed by registered employers, and 13,040 claims from workers employed by self-insured employers
• There were 4,510 income maintenance claims incurred from workers employed by registered employers, and 2,390 from workers employed by self-insured employers
• Significant changes to the legislation were passed by the SA Parliament
• WorkCoverSA released a new strategic plan from 2008-11

Subsequent events

Criminal prosecutions 2007-08 (see page 42)

On 22 July 2008, Mr Thompson's appeal to the Supreme Court was upheld on findings that the Magistrate failed to accord procedural fairness to Mr Thompson and failed to provide adequate reasons for his decision. The case has been remitted to the Adelaide Magistrates Court for re-hearing and determination before another magistrate.


Past annual reports are available from Documents A-Z.