COLA rate causes reduced pay

  • Published
  • By Staff Sgt. Connor Estes
  • 48th Fighter Wing Public Affairs
ROYAL AIR FORCE LAKENHEATH, England --  Liberty warriors should have noticed a decrease in their pay recently. This is because of the reduction in the Cost of Living Allowance entitlement.

The COLA rate set by the Defense Department for June resulted in Service members experiencing approximately 22 percent COLA reduction. This is due to the stronger U.S. dollar against the British Pound.

One of the factors determining this reduction is the COLA survey. The Financial Service Flight publicized the importance of the survey yet the participation percentage as a wing was less than 30 percent this year.

"This is why it's important to do those surveys," said Master Sgt. James Thompson, 48th Comptroller Squadron financial analysis flight chief.

"Not only is the decrease attributed to the strength of the U.S. dollar, but also to the inputs or lack thereof into the annual COLA survey," said Sergeant Thompson.

Based on June COLA rates for RAFs Mildenhall and Lakenheath, an Airman (E-2) with two years of service and two dependents is entitled to $313.34, down from $404.72 in May. A married Technical Sergeant (E-6) with 10 years of service and three dependents will now receive $441.34, down from $570.05. And a Colonel (O-6) with 24 years of service and two dependents gets $730.66 versus $943.78.

"Prices in the U.S. are rising compared to the U.K.," said Master Sgt. Penny Trantina-Bora, 48th CPTS financial services chief. "That is [one of] the reasons COLA here has dropped."