Cost of Living Allowance 2024

Here is all about the Cost of Living Allowance For Teachers. Below is a detailed explanation of the Cost of Living Allowance For Teachers, Its implementation and payment details.

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What Is Cost of Living Allowance

• Cost of Living Allowance abbreviated as COLA, is an allowance given to government employees as short-term relief when immediate salary increment cannot be made.
• Due to this the payment of Cost of Living Allowance, stops as soon as a salary is increased.
• Due to to the economic pressure on government, it would not be able to increase salaries by the 20% being demanded by teachers. As a smart move, the teacher unions are demanding it as a cost of living allowance instead.

Payment Of Cost of Living Allowance

• It is easier to convince government to pay a 20% Cost of Living Allowance than a 20% salary because the Cost of Living Allowance is temporal and may be scraped as soon as there is any increment in salary.
• Also the Cost of Living Allowance will not be affected incase International Monetary Fund (IMF) lays embargo on public sector salary increment as a condition.

About Cost of Living Allowance

• This is not the first time Cost of Living Allowance is being demanded or to be paid to workers. Previous governments paid Cost of Living Allowance for up to three years without salary increment and was removed as soon as a salary was increased

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