What is another word for cost-of-living benefit?
Pronunciation: [kˈɒstɒvlˈɪvɪŋ bˈɛnɪfˌɪt] (IPA) 
A cost-of-living benefit is a term used to describe a financial compensation provided by an employer to help offset the expenses associated with living in a particular area. Some synonyms for cost-of-living benefit include cost-of-living adjustment, locality pay, and differential pay. Other similar terms include living wage, compensation for inflation, and regional compensation. The purpose of these benefits is to ensure that employees are able to maintain a certain standard of living based on the cost of goods and services in their specific location. These benefits can also help to attract and retain employees in areas where the cost of living may be high.
