Minister of Finance Announces Payment of 2% COLA to Subsidized School Teachers

The Minister of Finance, Marinka Gumbs, is pleased to inform subsidized school teachers that
the long-awaited 2% Cost of Living Adjustment (COLA), which was granted to civil servants in
September 2024, has been disbursed to subsidized schools as of last week, and it is now the
responsibility of the schools to ensure that these payments are made to the teachers.
The Minister empathizes with the challenges faced by subsidized school teachers due to the
delayed payment of the 1% vacation allowance increase, the 1% COLA paid out in December
2023 to civil servants, and the recently disbursed 2% COLA indexation. These delays occurred
because the necessary allocations were not included in the 2024 budget.
Looking ahead, the Minister of Finance assures teachers that provisions for the 2% COLA and
the 1% vacation allowance increase for the year 2025 have been included in the 2025 budget.
The Minister reaffirms her commitment to keeping subsidized school teachers informed on any
developments and thanks them for their patience throughout this process.