Govt confirms civil servant pay hike for 2024
Civil servants will receive a 4.7% salary hike from April 1, the Department of Public Service and Administration confirmed on Wednesday.
The deal guaranteed a wage increase of 7.5% for 2023/24 and an inflation-linked wage hike for 2024/25. Inflation averaged 6% in the 2023 calendar year, and the SA Reserve Bank expects it to average 5.0% in 2024. But, using the Reserve Bank's quarterly forecasts for the fiscal 2024/2025 year , the average forecast rate is just below 4.6%.In addition, qualifying civil servants – including the lowest-paid employees as well as those who received a satisfactory performance rating – will also receive a"pay progression" increase of 1.5% from July.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elections 2024: Gauteng, KZN and EC have highest voter registrations ahead of 2024 pollsElections 2024: Gauteng, KZN and EC have highest voter registrations ahead of 2024 polls
Read more »
Eskom price hikes incoming — how much more you will payEskom’s price increases for the 2024/25 financial year kick in on 1 April 2024.
Read more »
DStv Announces New Pricing for 2024DStv has revealed its new pricing for 2024, with increases ranging from 3.1% to 7.8%. The company aims to keep increases minimal and will not raise prices for streaming customers. Contract options are introduced to fix prices for the remainder of contracts.
Read more »
DStv 2024 price increase: Here's what you'll pay this yearDStv 2024 price increase: Here's what you'll pay this year
Read more »
2024 Budget: Is a Vat increase the best solution to boost the coffers?‘Government, even in an election year, can make the point to say, well, we are in a tight corner, we don't want to cut back on expenses, the economy's not really growing yet as much as we would like it to grow, so to generate additional revenue, we are considering Vat,’ says Maarten Ackerman, chief economist at Citadel.
Read more »
All the best in pop culture celebrated at the 2024 People's Choice AwardsPHOTOS | All the best in pop culture celebrated at the 2024 People's Choice Awards
Read more »