What Does COLA Stand For?

COLA stands for Cost Of Living Allowance

COLA, or Cost Of Living Allowance, is a financial adjustment provided to employees or beneficiaries to help offset the rising costs of living, such as housing, transportation, and other essential expenses. It is often utilized in compensation packages, especially for employees relocating to areas with higher living costs, ensuring that their purchasing power remains consistent despite inflation or geographic disparities in expenses.

Other Meanings for COLA