The government and striking labor unions have reached an agreement on a 15% Cost of Living Allowance (COLA) that will be paid to all public sector employees. This article will detail when COLA will be paid to workers.
Agreement on the Cost of Living Allowance (COLA)
Minister of Employment and Labor Relations, Ignatius Baffuor Awuah made the following announcement during a press briefing:
- The Cost of Living Allowance (COLA) will be paid at a rate of 15 percent of base pay.
- That the effective date of the payment of COLA is 1st July 2022
- That all industrial actions underway and threats of same will be called off immediately and that Labour would return to work forthwith.
So when will Workers Receive their COLA Pay?
- Since the 15% COLA takes effect on July 1, 2022, it will be paid out by the end of July at the latest.
- Everything being equal, the government’s 15% cola bill will be paid by the 31st of July, 2022, according to current estimates.
About the Allowance
- In Ghana, teachers and non-teaching workers went on strike on July 4, 2022, calling for the government to provide a 20 percent pay increase.
- It was agreed that a 15 percent COLA would be acceptable to the union’s leadership, which was represented by Organized Labour.
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