The negotiations on public sector wage adjustment for this year has been formally concluded.
It has been agreed that in 2014, the Cost of Living Allowance (COLA) will represent 10 percent of the 2013 Basic Salary.
It was also agreed that it will be paid monthly effective May 2014 and that it will be paid in lieu of an increase in the Base Pay on the Single Spine Salary Structure.
This was what the Public Services Joint Standing Negotiating Committee, comprising government, represented by the Fair Wages and Salaries Commission (FWSC), Ministry of Finance and Ministry of Employment and Labour Relations on one hand and Organised Labour on the other hand have agreed on.
Mr George Smith-Graham, Chief Executive of the Fair Wages and Salaries Commission and Mr Kofi Asamoah, Secretary-General of the Trades Union Congress have accordingly appended their signatures to the agreement on behalf of government and organised labour.
The negotiations were concluded and signed Friday afternoon.
The government, labour and employers have this week been locked up in negotiations on a new minimum wage and an adjustment in public sector pay.
Government has agreed to offer a 14.5 per cent upward adjustment in the minimum wage from the present GH¢5.25 to GH¢6.01.
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