(b) Beginning on January 1, 2015, the minimum wage shall be an hourly rate of. $8.40 an hour; beginning on January 1, 201 the minimum wage shall be an hourly rate 7. of $9.20 an hour; and beginning on January 1, 201 the minimum wage shall be an 9. hourly rate of $10.10 an hour.
The pension adjustment (PA) amount is the value of the benefits you earned in 2014 under your employer's registered pension plans (RPP) and deferred profit sharing plans (DPSP), and possibly, some unregistered retirement plans or arrangements.
Updated September 24, 2016. Definition: The cost of living adjustment (COLA) is an increase in income that keeps up with the cost of living. It's applied to wages, salaries, and benefits. COLA is used for union agreements, CEOs and other executives, and retiree benefits. The government includes COLA for recipients of Social Security benefits.