The 2022-2025 tentative facilities agreement includes the following general wage increases over three years:
- April 1, 2022 (Year 1) – 25 cents an hour increase and then 3.24% on the adjusted hourly wage (4.24% combined GWI or more for most FBA members)
- April 1, 2023 (Year 2) – 5.5% base plus cost of living adjustment of up to 1.25% for possible maximum increase of 6.75%
- April 1, 2024 (Year 3) – 2% base plus cost of living adjustment of up to 1% for a possible maximum increase of 3%
How COLAs work in 2023 and 2024
Cost of living adjustments in 2023 and 2024 are linked to the annualized increase in the BC Consumer Price Index (BC CPI) measured over the previous February through March period.
If this number exceeds 5.5% for the period March 2022 through February 2023, the COLA will cover the difference to a maximum of 1.25% or a total wage increase of 6.75% for April 2023.
If this number exceeds 2% for the period March 2023 through February 2024, the COLA will cover the difference to a maximum of 1% or a total wage increase of 3% for April 2024.
See the comprehensive report for a more detailed explanation.
Disclaimer: This calculator is for demonstration purposes only, and the results may vary slightly from the final wage grid due to rounding