Final answer:
The allowance provided to transfer employees to help with cost of living differences in a new location is known as a Cost-of-Living Allowance (COLA).
Step-by-step explanation:
The allowance intended to offset the cost of living differences for transfer employees is known as a Cost-of-Living Allowance (COLA). This type of allowance takes into account the various expenses an employee may incur due to a change in location, especially when moving to an area with a higher cost of living. It is not to be confused with a hardship allowance which compensates for difficult living or working conditions, a mobility premium which might be given for the inconvenience of moving, or an expatriate bonus which is an extra payment for those living outside their home country.