Management Glossary

  Search Results: cost of living allowance
cost of living allowance
An automatic pay increase stipulated in a contract to be calculated at a specified frequency (usually annually) in order to compensate for the effects of inflation. The objective is that after the increase is applied, the buying power of the employee's salary and/or wages should be roughly equal to what it was at the start of the contract.
Contributed by: ManagerWise Staff

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