Indexed Periods - NSW, SA & VIC
The following states Index PIAWE/AWE Calculations at set times of the year which will in turn adjust a workers weekly payments.
NSW
PIAWE calculations are indexed biannually by WorkCover NSW.
The indexation adjustments reflect movements in the ‘Quarterly Wage Price Index for NSW ordinary time hourly rates of pay excluding bonuses’, published in the ABS quarterly publication, the Wage Price Index. This may result in an increase in the calculation of a worker's weekly payments. Your insurer will provide this information to the the employer when required. If Injury Master detects that indexation is due for a worker the user will be prompted.
SA
The indexation of AWE adjustments reflect movements in the annual adjustments according to changes in the Consumer Price Index.
You will be prompted to manually alter the AWE when required.
Victoria
Weekly payments are indexed each year in accordance with Victorian workers' compensation legislation.
The indexed changes are based on movements in the average earnings of Victorian workers. This may affect the increase the calculation of a worker's weekly payments. If Injury Master detects that indexation is due for a worker the user will be prompted.
Please note that the PIAWE can be changed at any time required using the edit button under settings.