Common use of Cost of Living Adjustments Clause in Contracts

Cost of Living Adjustments. The parties agree that in determining the level of any Cost of Living Adjustments (COLAs) that will be paid out starting on the first pay period after April 1, 2024 and April 1, 2025, respectively, the “annualized average of BC CPI over 12 months” in the collective agreement means the Latest 12-month Average (Index) % Change reported by BC Stats in March for British Columbia for the 12 months starting at the beginning of March 2022 and March 2023, respectively, and concluding at the end of the following February (2023 and 2024, respectively). The percentage change reported by BC Stats that will form the basis for determining any COLA increase is calculated to one decimal point. The Latest 12-month Average Index, as defined by BC Stats, is a 12-month moving average of the BC consumer price indexes of the most recent 12 months. This figure is calculated by averaging index levels over the applicable 12 months. The Latest 12-month Average % Change is reported publicly by BC Stats in the monthly BC Stats Consumer Price Index Highlights report. The BC Stats Consumer Price Index Highlights report released in mid-March will contain the applicable figure for the 12-months concluding at the end of February. For certainty, the annualized average of BC CPI over 12 months from March 1, 2022 to February 28, 2023 was 7.1%.

Cost of Living Adjustments. The parties agree that in determining the level of any Cost of Living Adjustments (COLAs) that will be paid out starting on the first pay period after April July 1, 2024 2023 and April July 1, 20252024, respectively, the “"annualized average of BC CPI over 12 twelve months” in Schedule A of the collective agreement means the Latest 12-month Average (Index) % Change reported by BC Stats in March for British Columbia for the 12 twelve months starting at the beginning of March 2022 and March 2023, respectively, the preceding year and concluding at the end of the following February (2023 and 2024, respectively)February. The percentage change reported by BC Stats that will form the basis for determining any COLA increase is calculated to one decimal point. The Latest 12-month Average Index, as defined by BC Stats, is a 12-month moving average of the BC consumer price indexes of the most recent 12 months. This figure is calculated by averaging index levels over the applicable 12 months. The Latest 12-month Average % Change is reported publicly by BC Stats in the monthly BC Stats Consumer Price Index Highlights report. The BC Stats Consumer Price Index Highlights report released in mid-March will contain the applicable figure for the 12-months concluding at the end of February. For certaintyreference purposes only, the annualized average of BC CPI over 12 twelve months from March 1, 2022 2021 to February 28, 2023 2022 was 7.13.4%.. Collective Agreement -78 - University of Northern British Columbia

Cost of Living Adjustments. The parties agree that in determining the level of any Cost of Living Adjustments (COLAs) that will be paid out starting on the first pay period after April July 1, 2024 2023 and April July 1, 20252024, respectively, the “annualized average of BC CPI over 12 twelve months” in Schedule A of the collective agreement Collective Agreement means the Latest 12-month Average (Index) % Change reported by BC Stats in March for British Columbia for the 12 twelve months starting at the beginning of March 2022 and March 2023, respectively, the preceding year and concluding at the end of the following February (2023 and 2024, respectively)February. The percentage change reported by BC Stats that will form the basis for determining any COLA increase is calculated to one decimal point. The Latest 12-month Average Index, as defined by BC Stats, is a 12-month moving average of the BC consumer price indexes of the most recent 12 months. This figure is calculated by averaging index levels over the applicable 12 months. The Latest 12-month Average % Change is reported publicly by BC Stats in the monthly BC Stats Consumer Price Index Highlights report. The BC Stats Consumer Price Index Highlights report released in mid-March will contain the applicable figure for the 12-months concluding at the end of February. For certaintyreference purposes only, the annualized average of BC CPI over 12 twelve months from March 1, 2022 2021 to February 28, 2023 2022 was 7.13.4%.

Cost of Living Adjustments. The parties agree that in determining the level of any Cost of Living Adjustments (COLAs) that will be paid out starting on the first pay period after April July 1, 2024 2023 and April 1, 2025July 1 2024, respectively, the “"annualized average of BC CPI over 12 twelve months” in Appendix 3 of the collective agreement means the Latest 12-month Average (Index) % Change reported by BC Stats in March for British Columbia for the 12 twelve months starting at the beginning of March 2022 and March 2023, respectively, the preceding year and concluding at the end of the following February (2023 and 2024, respectively)February. The percentage change reported by BC Stats that will form the basis for determining any COLA increase is calculated to one decimal point. The Latest 12-month Average Index, as defined by BC Stats, is a 12-month moving average of the BC consumer price indexes of the most recent 12 months. This figure is calculated by averaging index levels over the applicable 12 months. The Latest 12-month Average % Change is reported publicly by BC Stats in the monthly BC Stats Consumer Price Index Highlights report. The BC Stats Consumer Price Index Highlights report released in mid-March will contain the applicable figure for the 12-months concluding at the end of February. For certaintyreference purposes only, the annualized average of BC CPI over 12 twelve months from March 1, 2022 2021 to February 28, 2023 2022 was 7.13.4%.