Navy_Pete said:You can figure this out the same way as compound interest, but roughly for the years of increase you multiply it by;
First year - monthly pay x 1.25 = difference in monthly pay for year
Second year - monthly pay x 2.52
Third year - monthly pay x 3.8
Fourth year - monthly pay x 5.09
Fifth year - monthly pay x 6.41
anic: Warning! Math ahead!
new rate = current rate *(1+annual increase)^number of years gives you overall percent
example in year two = current rate * (1 + 0.0125) ^2
=current rate *1.0252 = new total monthly rate
pretty decent explanation here; https://www.mathsisfun.com/money/compound-interest.html
Compound interest is crazy that way; an annual 1.25% increase gives you a 13% growth over 10 years. Or do 1.5% a month (18% year) for credit card interest and you can see how fast your debt grows.
EME101 said:Besides barely keeping up with inflation, this raise also didn't keep up with the PSAC bargaining unit that we usually benchmark against. The Services bargaining unit contains most of the comparative civilian trades. They received the 1.25% a year, but also got additional raises. For example VHEs got an additional 9% market adjustment, making it that much harder to keep military Veh Techs.
BinRat55 said:What on earth ... where are you getting these percentages? I'm by far the greatest at math (3 x 6 = blue) but I read your mathplay link and I see it differently - as in exactly what the link says... a 1.25% raise at year one is still a 1.25% raise at year 4... you just add the 1.25 from year 1 to the base of year 2, and then again for year 3 and so on...
dapaterson said:Legacy rates are available at: http://www.forces.gc.ca/en/caf-community-pay/pay-rates.page
Messerschmitt said:Do these increases apply to PLD as well?
What are the yearly increases for that? Says allowances 5%, but there is no breakdown.
Lumber said:Does anyone have the previous pay scales? They seem to have replaced the "2013" pay scales on the website with the 2017 pay scales, but the link still says that they are the 2013 ones.
I'm trying to figure out what IPC I'm at, but since my pay office is an hour away, I'm trying to just compare what my current pay statement says against the old pay scale. I believe I'm IPC 5, but want to make sure.
BobSlob said:PLD hasn't been discussed yet. Allowances other than the ones mentioned are just a straight 5% across the board.
trooper142 said:Where are you seeing 2017 Rates? I clicked on the 2013 pay rates and they are still looking like the 2013 rates!
Messerschmitt said:It shows 2017. Your browser cache is still probably old. Press Ctrl+F5.
Hopefully they will release the PDF for 2013 rates like they do with 2012. Currently they just updated the web page directly with the new numbers.