Annual Bonus with PayPlan

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Post by simon363 » Fri Mar 04, 2022 5:24 pm
Hi All

My employer has just introduced a new bonus scheme, which is connected to the companies turnover and if the company achieves its target pays a % to each employee of their annual salary.

Given the bonus is an annual amount, but will be paid in a months salary how should it be handled?

Given it’s an annual bonus can I keep the first 10% of my annual wage and then split the difference 50/50 or will it be viewed as a 1 month bonus and therefore I can keep 10% of a months wage and then split the difference 50/50?

Has anyone also experienced this with PayPlan?



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Post by Foggy » Fri Mar 04, 2022 5:45 pm
In the 'old days' it would have been treated as a monthly bonus and you would only have got the 10% disregard based on monthly income. However, I have seen some IP's treat it as though you were paid it in monthly installments.
Payplan have altered the way they seem to work a fair bit in the last year or two, after an internal restructuring, so it is difficult to predict the way they will treat this..
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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