How To Calculate 15% Cost of Living Allowance

Here is How to Calculate 15% Cost of Living Allowance as agreed to be paid by government.

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

The Cost of Living Allowance will be paid is 15% of your base pay.

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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.

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

Govt 15% Cost of Living Allowance Payment Calculation Table

When Will Cost of Living Allowance Be Paid

• Here is When Cost of Living Allowance Will Be Paid

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