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COLLECTIVE AGREEMENT BETWEEN AMERICA SENIORS COMMUNITY LTD. AND HOSPITAL EMPLOYEES UNIONJANUARY 1, 2020 TO DECEMBER 31, 2023 Note: underlined text is new language for 20202023Amenida Seniors Community

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How to fill out cost of living adjustment

01

Obtain the current cost of living adjustment guidelines from your organization or government institution.

02

Identify the categories or items that are included in the cost of living adjustment calculation.

03

Gather your personal financial information such as monthly expenses, income, and any additional financial commitments.

04

Calculate the percentage increase or decrease in the cost of living using the provided guidelines.

05

Apply the calculated adjustment to your current income or expenses to determine the new adjusted amount.

Who needs cost of living adjustment?

01

Individuals or employees whose salaries are not automatically adjusted for inflation.

02

Retirees or pensioners who rely on fixed incomes and need to ensure their purchasing power is maintained.

03

Organizations or businesses looking to adjust salaries or benefits to reflect changes in the cost of living.

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What is cost of living adjustment?

Cost of living adjustment (COLA) is an increase in income that is made to cover the cost of living increases.

Who is required to file cost of living adjustment?

Individuals receiving benefits or income that are subject to cost of living adjustments are required to file for COLA.

How to fill out cost of living adjustment?

To fill out a cost of living adjustment, individuals need to provide information about their current income, expenses, and any changes in the cost of living.

What is the purpose of cost of living adjustment?

The purpose of cost of living adjustment is to ensure that individual's income keeps pace with the rising cost of living.

What information must be reported on cost of living adjustment?

Information such as current income, expenses, and any changes in the cost of living must be reported on cost of living adjustment form.

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