NTC agrees on 14.5% minimum wage;10% COLA

A woman holds 03 July 2007 in Accra a waThe National Tripartite Committee (NTC) has finally reached an agreement to increase the National Daily Minimum Wage (NDMW) to 14.5 percent.

This means the Daily Minimum Wage will increase from GHC 5.24 to GHC 6.

The consultative meeting between the NTC, the Public Service Joint Standing Negotiating Committee and Organized Labour concluded negotiations on the Cost of Living Allowance (COLA).

In a statement jointly signed by the Chief Executive of the Fair Wages and Salaries Commission (FWSC), George Smith Graham, the Secretary General of the Trades Union Congress (TUC), Kofi Asamoah, as well as the Minister of Employment  and Labour Relations, Nii Armah Ashietey; the stakeholders agreed that the Cost of Living Allowance will represent 10 percent of the 2014 basic salary

According to the statement, the effective  date of implementation is 1st May, 2014.

The Minister also asked institutions, organizations and establishments whose daily minimum wage is below the ”new National Daily Minimum Wage should adjust its wages upward accordingly.”
The NTC further recommended that the daily minimum wage should tax free.

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