COST OF LIVING ALLOWANCE. 34.01 (a) For Wage Schedules 1 and 3, if the June 2007 Consumer Price Index (C.P.I.) exceeds the C.P.I. for June 2006 by more than 2.0%, then all basic rates of pay in effect at August 31, 2007 will be increased effective September 1, 2007 by a percentage figure equal to the difference between: (i) the percentage by which the June 2007 C.P.I. exceeds the June 2006 C.P.I. and (ii) 2.0% to a maximum of 1.0% of basic rates of pay. (b) For Wage Schedule 2, if the June 2007 Consumer Price Index (C.P.I.) exceeds the C.P.I. for June 2006, then all basic rates of pay in effect at August 31, 2007 will be increased effective September 1, 2007 by a percentage figure equal to the difference between the percentage by which the June 2007 C.P.I. exceeds the June 2006 C.P.I. to a maximum of 1.0% of basic rates of pay.
Appears in 9 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
