Vehicle owners are getting a bit of a break from the wicked prices at the pumps in the coming weeks as SGI will give owners a $100 rebate per vehicle.
Minister responsible for SGI Don Morgan said the government is pleased to deliver the benefit from the Auto Fund for another year.
“The Rate Stabilization Reserve has a surplus that was largely generated by its well-performing investment portfolio,” said Morgan in a media release. “We believe it’s fair that all Auto Fund customers benefit equally, regardless of how long their vehicle was registered or the premium they pay for that vehicle. All drivers are facing higher fuel costs, regardless of what they’re driving.”
The rebates will be $100 for each vehicle or motorcycle registered as of March 9, 2022.
SGI estimates there will be 700,000 rebate cheques issued.
In 2021, the auto fund was able to deliver rebates for owners of vehicles between 2018 and 2020 that was based on how much owners paid over that period.