Common use of Cost of Living Clause Clause in Contracts

Cost of Living Clause. Commencing in April, 2004, the Employer and the Union shall meet to determine if there has been more than a three percent (3%) increase in the B.C. Consumer Price Index (CPI)* over the past year. The determination (CPI Increase) will be based on a comparison of the March, 2004 B.C. CPI to the March 2003 B.C. CPI. If the CPI Increase exceeds three percent (3%) then the Employer shall pay Grid A employees (except Service Clerks and Demonstrators) at top rate of their classification, one cent ($0.01) per hour paid and one half cent ($0.005) per hour paid for all other employees for each one-third of one percent (.333%) that the CPI Increase exceeds three percent (3%). Hours paid shall mean the hours paid in the fifty-two (52) weeks prior to March 28, 2004. The above calculation shall also be made in April, 2005; April, 2006; April, 2007; April, 2008, as follows: Calculation Date CPI Increase Comparison Hours Paid Calculation April, 2005 March, 2005 vs. March, 2004 52 weeks prior to March 27, 2005 April, 2006 March, 2006 vs. March, 2005 52 weeks prior to April 2, 2006 April, 2007 March, 2007 vs. March, 2006 52 weeks prior to April 1, 2007 April, 2008 March, 2008 vs. March, 2007 52 weeks prior to March 30, 2008 1. March, 2005: B.C. CPI. = 154.8 2. March, 2004: B.C. CPI. = 140.7 3. 154.8 divided by 140.7 = 10.0213% increase in B.C. CPI

Cost of Living Clause. Commencing in April, 2004, the Employer and the Union shall meet to determine if there has been more than a three percent (3%) increase in the B.C. Consumer Price Index (CPI)* over the past year. The determination (CPI Increase) will be based on a comparison of the March, 2004 B.C. CPI to the March 2003 B.C. CPI. If the CPI Increase exceeds three percent (3%) then the Employer shall pay Grid A employees (except Service Clerks and Demonstrators) at top rate of their classification, one cent ($0.01) per hour paid and one half cent ($0.005) per hour paid for all other employees for each one-third of one percent (.333%) that the CPI Increase exceeds three percent (3%). Hours paid shall mean the hours paid in the fifty-two (52) weeks prior to March 28, 2004. The above calculation shall also be made in April, 2005; April, 2006; April, 2007; April, 2008, as follows: Calculation Date CPI Increase Comparison Hours Paid Calculation April, 2005 March, 2005 vs. March, 2004 52 weeks prior to March 27, 2005 April, 2006 March, 2006 vs. March, 2005 52 weeks prior to April 2, 2006 April, 2007 March, 2007 vs. March, 2006 52 weeks prior to April 1, 2007 April, 2008 March, 2008 vs. March, 2007 52 weeks prior to March 30, 2008 1. March*B.C. CPI as supplied by Statistics Canada Example for April, 2005: B.C. CPI. = 154.8 2. March, 2004: B.C. CPI. = 140.7 3. 154.8 divided by 140.7 = 10.0213% increase in B.C. CPI: