Strong yen prompts big COLA increase in Japan

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Strong yen prompts big COLA increase in Japan
By Jennifer H. Svan, Stars and Stripes
Pacific edition, Sunday, February 3, 2008

A strong Japanese yen could fatten the next paycheck or two for U.S. servicemembers living in mainland Japan and Okinawa by as much as $100 a month.

The overseas cost of living allowance rose between four and eight points at U.S. military bases from Okinawa to Misawa, according to figures released Friday by the Per Diem, Travel and Transportation Allowance Committee at the Pentagon.

“This is being driven by the (yen-to-dollar) exchange rate,” said Ron Stewart, U.S. Forces Japan locality coordinator. “Six points is significant within Japan. We’re probably talking about a $25 to $50 increase, depending upon their location within Japan, per payday.”

Misawa, Yokosuka, Kamiseya and Yokohama saw some of the biggest increases in COLA with six-point gains, and COLA improved eight points in Tokyo. Most locations, including Okinawa, Sasebo, Iwakuni, Atsugi, Camp Fuji and Yokota, had four-point jumps.

For an E-6 with 10 years of service and three dependents at Yokosuka, the difference equates to nearly an extra $100 a month.


Rest of article at: http://www.stripes.com/article.asp?section=104&article=52147