HOW MUCH ARE YOU LIKELY TO TAKE HOME? 30% BASE PAY INCREMENT TO REFLECT IN JANUARY SALARIES

As you may recall, about some couple of weeks ago, Labor Unions and Government of Ghana upon a long tussle on salary negotiations sometime in November last year came to an agreement on a 30% rise in Base-pay for Public sector workers. Checks indicates that the Controller and Accountant General has been directed to effect changes in payroll to reflect the increment in salaries for January. The implementation of the 30% increment in Base pay would also mean that the 15% Cost of Living Allowance (COLA) which was approved in July, 2022 to cushion workers against the hash economic times would be taken off. So technically, what it again means is that pay rise is only by 15%. Let me walk you through the calculations so you can be properly informed on how much exactly you should be expecting in your bank accounts at the end of the month. For example, if as at December, 2022 your Base pay was GHC2,056.31 then your new Base pay to reflect in January will be calculated as 30...