Date Check: OCUFA Report, October 12, 2010
Use this calculator to measure the damage of zero wage increases.
What would be the effect of a two-year wage freeze on your salary which the Ontario government has been
requesting from public employees — when combined with inflation?
Here’s a handy cheat sheet, provided from the Ontario Public Service Employees Union.
Grab a calculator — or pen and paper — and see what the damage would be on your earnings.
Wage loss calculator
With two-year wage freeze followed by annual wage increases equal to inflation, assuming a rate of inflation of 2 per cent
Your annual income now (or on the last day before the freeze would take effect):
Year 1 income loss Your annual income now X 0.0196 $
Year 2 income loss Your annual income now X 0.0388 $
Year 3 income loss Your annual income now X 0.0388 $
Year 4 income loss Your annual income now X 0.0388 $
Year 5 income loss Your annual income now X 0.0388 $
Total income loss after five years = Your annual income now X 0.175 $
Note that this calculator does not include interest on your lost money.