COST-OF-LIVING BONUS. The parties acknowledge and agree that as per the Memorandum of Agreement signed on March 17, 2007, changes to the appropriate cost-of-living index figures, in this Article, are housekeeping changes only and not substantive changes and that similar housekeeping changes should be made in future collective agreements unless otherwise negotiated.
COST-OF-LIVING BONUS a) A triggered C.O.L.A. will be implemented if the inflation rate exceeds six (6) percent during each year that this contract is in effect. For each 0.4 increase in the Consumer Price Index for Canada (1992=100) beyond the six (6) percent figure, wages will be increased by $0.01.
b) There will be two C.O.L.A. adjustment dates being the first full calendar week following the C.P.I. issued on or about June 1, 2017 and May 31, 2020.
c) C.O.L.A. adjustments shall be considered "add-on" on all hours worked only and shall not be deemed part of the employee's standard hourly wage rate for the purpose of calculation of overtime, pension contribution, nor any other benefits provided for in the Agreement.
COST-OF-LIVING BONUS. Salaries will be increased or decreased by $3.67 per week for each point or major portion thereof. A review for this purpose shall be made at six (6) month intervals as of the date the contract takes effect. In no case will salaries be reduced below the contract rate. The base cost-of-living index figures will be the Statistics Canada figure for January 1st, 2002. A buffer of seven (7) per cent shall apply beyond the figure published for the month of December 2016; namely 128.6 (2002 base = 100). Re-accumulation of $3.67 per week for each point or major portion thereof shall recommence at 137.
COST-OF-LIVING BONUS. The employee shall be eligible for a cost of living wage adjustment on the following conditions:
(a) The Statistics Canada - CPI increases no less than 8% per annum over any 12 consecutive months starting at the base date and ending no later than the expiry date of the Agreement, December 31, 2026.
(b) The base date shall be the first of the month following ratification of the 2024-2026 Agreement.
(c) The wage adjustment shall be $0.01 for each 0.4% increase over the base CPI. All fractions of $0.005 or more shall be rounded up. Example: CPI on base date 150 after 12 months 162 Base rate increase 12/150 X 100% = 8% Amount of wage increase 8%/0.4% = $0.20
(d) In the event that the 8% trigger has been reached the initial cost of living adjustment shall be made the first of the following month and quarterly thereafter.
(e) It should be noted that the Consumer Price Index effective June 1 is the Index published by Statistics Canada on or about July 15th and so on in that manner.
COST-OF-LIVING BONUS. 31.01 A cost-of-living bonus where applicable shall be payable to the
COST-OF-LIVING BONUS. 31.01 A cost-of-living bonus where applicable shall be payable to the I.A.M. Pension Fund for each hour worked and for each hour which an employee is entitled to holiday pay pursuant to Article
COST-OF-LIVING BONUS. Salaries will be increased by $1.00 per week for each point or major portion thereof. A review for this purpose shall be made at six (6) months intervals (June and December) using the Stats Canada figure for the last month preceding the expiration date of the last Collective Agreement. The base cost of living index figures shall be the all Canada consumer figure, 1981=100. Payments shall be folded in the basic salaries at six months intervals.
COST-OF-LIVING BONUS. Effective December 3, 2005 through to and including Xxxxxxxx 0, 0000 Xxxx-xx-xxxxxx bonus is frozen Accrual stops Effective December 4, 2006 Cost-of-living bonus is re-instated Accrual starts
(a) (i). The Company shall post the total accrued
31.01 (a) With effect from the Saturday following publication of Consumer Price Indices for Canada published by Statistics Canada in the month of December 2006, every employee shall be paid a cost-of- living bonus at the rate of $ .08 per day for each full .0747 points (1992 = 100) by which the said Index (or the precise equivalent thereof) exceeds the Consumer Price Indices published in the month of December 2006, and which shall be paid in March 2007.
(b) Review of the cost-of-living bonus established in December 2006 shall be made on a quarterly basis from March 2007 to December 2008, inclusive, and any adjustment, which may be either upward or downward shall be made effective quarterly on the Saturday following publication of the Consumer Price Indices for Canada by Statistics Canada at the rate of $ .08 per day for each full .0747 points (1992 = 100) changes in the Index.
(c) Entitlement shall be as follows: The cost-of-living bonus established in December 2006 shall be paid in March 2007 and quarterly thereafter, with a final adjustment in December 2008.
COST-OF-LIVING BONUS. A cost-of-living bonus where applicable shall be payable to the Pension for each hour worked and for each hour which an employee is entitled to holiday pay pursuant to Article hereof, but shall not be incorporated into or otherwise affect the hourly wage rates set out in Appendix hereof, nor included for the computation of overtime pay. The said cost-of-living bonus shall be calculated and paid pursuant to Article hereof.
COST-OF-LIVING BONUS. A Cost of Living Bonus shall be determined on the basis of the Consumer Price Index using A Cost of Living Bonus of one cent per hour increase or decrease for each point increase or decrease in the "Index" will be paid to all employees covered by this Agreement. These adjustments will be made in a like manner quarterly on all hours worked. The Statistics Canada Consumer Index released May (April will be the starting index for the quarterly adjustment. The Cost of Living Bonus will be paid on the first pay after the quarterly calculation. Notwithstanding the above, no COLA bonus will be paid until such time as the COLA exceeds per hour per employee based on the for- mula and calculations stated in Article The Cost of Living Bonus amount will be added to the base rate annually.
