www.iva.co.uk

Can someone please clarify how salary increases are dealt with, in an IVA with Stepchange?

The proposal mentions an annual review where income and expenditure are checked, and that I will have to pay 50% of any salary increase above my original payment.

But it also mentions the need to notify the supervisor within 14 days of any "overtime, bonus, commission or similar"

So do I need to notify a salary increase within 14 days or wait till the next annual review?

The 14 day clause seems to specifically omit salary increases

Also is my initial monthly payment sum used as a base point for working out surpluses etc throughout the IVA term, or if on an annual review a new monthly payment is determined, does that become the new base point for future calculations?

Thanks

Sorry wrong forum. Can a mod please move this?

Hi
You need to inform your IP of overtime as you get it, and the relevant portion will need to be paid in right away. Regarding the permanent increases, opinions vary! In my case I told my IP whenever the pay increase was awarded and he basically ignored it until review time. I feel it better to tell them everything as it happens --- now ... some IP's do try for the increase right away and have to have the clauses explained to them !!!

The base point for calculating overtime due to be paid in is the monthly salary agreed at the last review.

Thanks

I've scoured the conditions, but I can't find any reference to increase in salary other than in relation to the annual review.

So I am curious as to why notifying actual salary increases is not explicitly mentioned in the "overtime, bonus, commission or similar" condition. I can't imaging that salary increase would be "or similar".

Every other condition seems quite explicit, so I wondered what condition I could potentially be in breach of if I waited until the annual review?

The current Standard Conditions ( Revised November 2013) state in Part III "Your Duties and Obligations":

8(5) You must inform the Supervisor at any time that you are in receipt of additional income ......

This could be stretched to include a permanent pay rise.