ReturnToWorkSA will maintain its average premium at 1.95% of wages next financial year.

Last year the state workers’ compensation scheme announced a 29% reduction in the average premium rate from 2.75% of wages.

The scheme was established on July 1 last year, when it replaced SA’s Workers’ Rehabilitation and Compensation scheme.

CEO Greg McCarthy, who oversaw transition to the new scheme, will retire later this year when his contract ends. He has been in the role since 2012.

Meanwhile, WorkCover WA has announced a 0.3% decrease in the 2016/17 recommended premium rates for compulsory workers’ compensation insurance.

The average rate will be 1.478% of total wages (down from 1.483% the previous year) and is the lowest recorded in WA.