COLA rates get boost in Europe

[unhappycamper]

COLA rates get boost in Europe
By John Vandiver, Stars and Stripes
European edition, Saturday, January 3, 2009

STUTTGART, Germany — For most U.S. troops and civilians stationed in Europe, the New Year has ushered in a solid bump in cost-of-living allowances, the first such jump in months.

The boost, which stretched across Germany, Italy and the United Kingdom, is linked to the dollar’s steady decline against the euro throughout December.

For servicemembers, the allowance, known as COLA, increased by 39 percent in Germany and by 26 percent in Italy, which equals about $120 more per paycheck for an E-5 with three dependents. In the United Kingdom, COLA increased by 23 percent, or $46 per paycheck for a similarly ranked troop. The change took effect Jan. 1.

For civilian workers, post allowance jumped by 40 percent in Germany and 43 percent in Italy. That means a family of four earning $45,000 per year will receive roughly $100 more per paycheck. That change takes effect on Sunday.

The rate remained flat in the United Kingdom for civilians.


Rest of article at: http://www.stripes.com/article.asp?section=104&article=59757

[SKKY]

1. That's certainly good news indeed!

I'm getting absolutely killed by the Euro here in Spain.