{"id":16059,"date":"2020-01-07T13:57:12","date_gmt":"2020-01-07T11:57:12","guid":{"rendered":"http:\/\/www.oeb.org.cy\/?p=16059"},"modified":"2020-01-07T13:57:12","modified_gmt":"2020-01-07T11:57:12","slug":"cost-of-living-allowance-cola-final-figures-for-2019","status":"publish","type":"post","link":"https:\/\/www.oeb.org.cy\/en\/cost-of-living-allowance-cola-final-figures-for-2019\/","title":{"rendered":"Cost of Living Allowance (COLA) \u2013 Final figures for 2019"},"content":{"rendered":"

The Cyprus Employers & Industrialists Federation (OEB) informs all members that adjust salaries based on the change in the Cost Of Living Allowance (COLA) for the following:<\/p>\n

    \n
  1. The Consumer Price Index (excluding excise taxes) for the year 2019 recorded an increase of 0.46%.<\/li>\n<\/ol>\n

     <\/p>\n

      \n
    1. According to the transitional agreement on COLA, which was signed on the 28th<\/sup> July 2017 by the Social Partners, salaries are adjusted by 50% of the annual Index increase. Therefore, the increase for 2019 is 0.23%.<\/li>\n<\/ol>\n

       <\/p>\n

        \n
      1. As a result, COLA as of 01\/01\/2020 amounts to 1,27% on the new salaries, as these were formed through the above transitional arrangement.<\/li>\n<\/ol>\n

         <\/p>\n

        Example:<\/u><\/strong><\/p>\n\n\n\n\n\n\n
        Salary before<\/strong> 01\/01\/2018<\/strong><\/td>\nCOLA calculation for 2017<\/strong><\/td>\nCOLA calculation<\/strong><\/p>\n

        for 2018<\/strong><\/td>\n

        		COLA calculation<\/strong><\/p>\n

        for 2019<\/strong><\/td>\n<\/tr>\n

        \u20ac 1500<\/td>\n1500 * 0,28% =<\/p>\n

        \u20ac 4,20<\/td>\n

        		1500 * (0,28 + 0,76)% =\u00a0\u20ac 15,60<\/td>\n1500 * (0,28 + 0,76 + 0,23)% =\u00a0\u20ac 19,05<\/td>\n<\/tr>\n
        Salary as of<\/strong> 01\/01\/2018<\/strong><\/td>\nSalary as of<\/strong> 01\/01\/2019<\/strong><\/td>\nSalary as of<\/strong><\/p>\n

        01\/01\/20<\/strong>2<\/strong>0<\/strong><\/td>\n<\/tr>\n

        1500 + 4,2 =<\/p>\n

        \u20ac 1504,20<\/td>\n

        		1500 + 15,60 =<\/p>\n

        \u20ac 1515,60<\/td>\n

        		1500 + 19,05 =<\/p>\n

        \u20ac 1519,05<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

         <\/p>\n

        Please note that the above example does not account for any general increases and \/ or increments granted during the period 2018-2019.<\/em><\/strong><\/p>\n

        \u00a0<\/em><\/p>\n

        For any clarifications, please contact OEB\u2019s Industrial Relations & Social Policy Department at 22-665102.<\/p>\n","protected":false},"excerpt":{"rendered":"

        The Cyprus Employers & Industrialists Federation (OEB) informs all members that adjust salaries based on the change in the Cost Of Living Allowance (COLA) for the following: The Consumer Price Index (excluding excise taxes) for the year 2019 recorded an increase of 0.46%.   According to the transitional agreement on COLA, which was signed on […]<\/p>\n","protected":false},"author":1,"featured_media":16060,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-16059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news"],"yoast_head":"\nCost of Living Allowance (COLA) \u2013 Final figures for 2019 - Cyprus Employers and Industrialists Federation<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.oeb.org.cy\/en\/cost-of-living-allowance-cola-final-figures-for-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cost of Living Allowance (COLA) \u2013 Final figures for 2019 - 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