More RSMC COLA on the Way for Third Quarter of 2023
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Our Cost of Living Allowance will pay out once again, as it has several times during the renewal agreements, to help members deal with inflation.
Please note, the information below is subject to change should we win our National Grievance (N00-22-R0005). In
dispute is the date of the base month for the calculations of COLA amounts owed. Canada Post Corporation has confirmed
that it will pay the COLA payments as below, calculated in accordance with their position on the base month.
AMOUNTS
The COLA is checked and paid, if triggered, quarterly. The quarter in question is July 1 to September 30, 2023 (PP16 to PP21).
In CPC’s view, the base month for the RSMC COLA in the contract renewal is December 2021. The December 2021 CPI was 144, so the adjusted index for comparison would be 151.7.
The CPI was 158.6 in October, exceeding the adjusted index by 6.9. Therefore, the COLA payment will equal 5.025% of all activity values paid for the new quarter.
The COLA payment for the 2nd quarter of 2023 was applied to full pay periods. Thus, you already received a payment of
4.0875% for PP15 as part of the last quarter. A percentage difference of 0.9375% (5.025 – 4.0875) will be applied to
PP15.
SAMPLE CALCULATION FOR AN EIGHT-HOUR ROUTE
Sample calculation for PP15
| RSMC Derived hourly rate | COLA Rate % (5.0250-4.0875) | PP15 # paid hrs (10) days | PP15 Payment |
| $30.36 | 0.9375% | 80 | $22.77 |
Sample calculation for PP16 to PP21
| RSMC Derived hourly rate | COLA Rate % | PP16- PP21 # paid hrs (60 days) | PP16- PP21 Payment |
| $30.36 | 5.0250% | 480 | $732.28 |
Total payment equals
| Total Payment |
| $755.05 |
*Please note this is a sample calculation based on eight hours per day. The actual amount will vary according to the number of actual hours paid during the periods.
The payments will come as a lump sum on your December 21, 2023, pay.
In Solidarity,
| Attachment | Size |
|---|---|
 More RSMC COLA on the Way for Third Quarter of 2023 (pdf) | 226.92 KB |
