Salary and Wage Increase for the 2023/2024 Financial Year

The SALGBC Circular 01/2023 sets out the salary and wage increase for the 2023/2024 financial year.

In terms thereof, the salary increase taking effect on 1 July 2023 is 5.4%.

This increase is based on the Reserve Bank’s CPI average forecast for 2023, as per the statement of the Monetary Policy Committee on 26 January 2023.

Accordingly, the increases that will take effect on 1 July 2023 are as follows:

No.Item% IncreaseAmount in Rands
1.Basic Salaries (across the board)5.4%
2.Benefits & Conditions of Service linked to salaries5.4%
3.Minimum Wage5.4%R9 531.54
4.Housing Allowance5.4%R1 066.41
5.Maximum Medical Aid Subsidy (60/40)5.4%R5 277.38

This salary increase represents the third and final leg of the current Salary and Wage Collective Agreement which expires on 30 June 2024.

Members will be notified when negotiations on a new Salary and Wage Collective Agreement will begin, once the SALGBC has finalised the negotiations time-table.