When Will Cost of Living Allowance Be Paid

When Will Cost of Living Allowance Be Paid

The government has agreed to pay a 15% Cost of Living Allowance with effect from 1st July , 2022.

The Cost of Living Allowance will be paid at a rate of 15% of base pay.

This is as made known at a press briefing in Accra on Thursday July 14th, 2022 after negotiations between the government and Organised Labour was concluded.

About Cost of Living Allowance

Teaching and non teaching staff in Ghana embarked on a strike action on July 4th, 2022 demanding a 20% Cost of Living Allowance from government.
Their leadership represented by Organised Labour had insisted on a 20% Cost of Living Allowance however during the negotiations but it was reduced by 5% to make it 15%.
An earlier meeting between government and the leadership of teacher unions ended in a walkout by leadership of teacher unions.
However after another meeting in Accra on Thursday July 14th, 2022, negotiations were fruitful and government agreed to pay a 15%

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When Will Cost of Living Allowance Be Paid

Since the 15% Cost of Living Allowance takes effect from 1st July , 2022 it will be paid by the end of July
The 15% Cost of Living Allowance is most likely be added to the salary of July
All things being equal, the Govt 15% Cost of Living Allowance will be paid by 31st July , 2022

What Is Cost of Living Allowance

Cost of Living Allowance, is an allowance given to government employees as short-term relief when immediate salary increment cannot be made.
Payment of Cost of Living Allowance, stops as soon as a salary is increased.

• How To Calculate 15% Of Cola

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What Is Base Pay

The base pay, is the amount of money an employee earns before any additions or deductions are made.
The base pay is denoted on your GOG payslip as Single Spine Monthly Salary
The base pay also known as the single spine salary is going to be calculated based on 15% of the single spine monthly salary.
To know your base pay, check your payslip here

How To Calculate 15% Cost of Living Allowance

To Calculate 15% Cost of Living Allowance assuming your base pay on your payslip is GHC 2000.

Multiply 15% by 2000 thus 15/100 × 2000 = GHC 300.
Your Cost of Living Allowance for this instance is GHC 300
The GHC 300 will be added to your base pay of GHC 2000
Your receivable salary will be effected after other deductions (taxes, etc) and other allowances are added to your base pay

• How To Calculate 15% Of Cola

• When Will Cola Be Paid

• Effective Date of Cola

• How To Calculate 15% Of Cola

• When Will Cola Be Paid

• Effective Date of Cola

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