Victorian WorkCover Authority 2025-26 annual report
Summary
The report's own summary: Report from the Chair, page 6
Generated summary: written by an AI model from the report text and checked against the cited pages.
WorkSafe Victoria’s 2025–26 report described its role as workplace safety regulator and injury insurer, seeking to prevent harm and support injured workers.
WorkSafe reported 58,163 workplace visits and support for 26,892 injured workers to return to employment.
The Board reported improving return-to-work results but noted actuarial advice that the full effect of scheme reforms could not yet be assessed.
WorkSafe reported an insurance funding ratio of 120%, while cautioning that investment and economic conditions could change.
WorkSafe reported an after-tax profit of $1 billion, exceeding its budget by $1 billion.
In the body's own words
- Conclusion
These positive developments should be considered alongside the advice from our actuaries that it is too early to assess the full impact of reforms.
Finances 3
Total revenue and income
$9,016,311 thousand
Printed as
Total revenue and income 9,016,311 8,653,777
Total expenses
$(6,062,547) thousand
Printed as
Total expenses (6,062,547) (7,553,559)
Net result for the year
$1,001,446 thousand
Printed as
Net result for the year 1,001,446 796,593
Staff 2
Total employees
1,904 people
Printed as
Total employees 1,904 1,850 1,928 1,872
Total employees
1,850 FTE
Printed as
Total employees 1,904 1,850 1,928 1,872
Executives and remuneration 1
Total number of executives
18 people
Printed as
Total number of executives 18 12
Consultancies 16
Nous Group Pty Ltd
$249 thousand
Printed as
a five-year finance strategy, finance operating model, data and technology roadmap, resource and capability plan with an implementation plan 249 249 -
Arup Australia Pty Ltd
$100 thousand
Printed as
Safety regulatory strategy in the renewable energies sector including recommendations for implementation, stakeholder engagement and evaluation plan 200 100 -
FTI Consulting (Australia) Pty Ltd
$89 thousand
Printed as
advice to review WorkSafe's permissions within the State Purchasing statutory obligations including licensing and registration 105 89 -
Deloitte T&T Pty Ltd
$80 thousand
Printed as
the key drivers of expense budget variances and provide insights and practical recommendations to improve analysis and reporting for future periods 80 80 -
Deakin University
$75 thousand
Printed as
and loneliness, provide a report outlining the findings and provide recommendations on how to improve return to work outcomes for those affected 100 75 25
Monash University
$50 thousand
Printed as
on programs and interventions involving immersive technologies including identification of standardised protocols or best practice recommendations 50 50 -
Diversity Partners Pty Ltd
$49 thousand
Printed as
expert advice and recommendations to support the development of WorkSafe's 2026 Gender Equity Action plan 49 49 -
Ian Donald Broadway
$42 thousand
Printed as
and evaluation of the Financial Planning and Analytics division and provide recommendations on opportunities to drive organisational effectiveness 42 42 -
Lincoln Regcom Solutions Pty Ltd
$41 thousand
Printed as
outcomes to help WorkSafe's continuous improvement framework to improve experiences for affected families involved in fatalities or serious injuries 41 41 -
Parapet Consulting
$40 thousand
Printed as
against potential alternate providers and to provide recommendations regarding the suitability of the security systems in meeting their future needs 40 40 -
Monash University
$40 thousand
Printed as
a Quality Research framework which formalises and standardises research practices and ensures WorkSafe's continued delivery of high-quality research 40 40 -
Diversity Partners Pty Ltd
$26 thousand
Printed as
Equity and Inclusion framework ensuring alignment to organisational strategy and values and to provide a practical roadmap to guide implementation 26 26 -
La Trobe University
$24 thousand
Printed as
recommendations around higher order controls that serve to mitigate work-related musculoskeletal disorder risks 120 24 -
Diversity Partners Pty Ltd
$23 thousand
Printed as
a WorkSafe specific Gender Impact Assessments framework and example learning resources that use real or scenario-based examples 23 23 -
Brennan IT Pty Ltd
$18 thousand
Printed as
a strategic plan and provide recommendations for the replacement of obsolete on-premise computing infrastructure 18 18 -
Grand total
$944 thousand
Printed as
Grand total 944
About the document
- Edition
- Current edition
- Reading status
- Read by OPAX
- Pages
- 123
- Figures not found in the report
- Employee expenses; Executive band; Executive remuneration total; Head remuneration