Just a quick question, ive got a new job in the New Year within my place of work and will be receiving a pay rise of 10% I had my second review last June and had to remain to pay the same amount even having a 2% cost of living rise and paying less tax making me slighty better off. I've rang my IP and he said to just send in my first pay slip and he'll deal with it then. However me being me and budgeting every solitary pound these days![:)] is wondering is the 10% 50/50 rule applied to your original income figure or the one after your review??? It doesnt seen to stipulate in my agreement paperwork..thanks in advance, this site is fabulous btw [:D][:D]
Congratulations.....will the new role incur any additional costs.....further to travel, change of shift times so additional meals etc etc....if so ensure it is all taken into account when agreeing a new Income and expenditure.
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Thanks luluj..not alot of additional costs, possibly more travel and clothing. Just wasnt sure if the income is based on the start of my IVA or since my review. x
Everyone paperwork is different and unique to their IVA...your IP is best placed for a definitive answer.......let's hope you are able to keep some of the increase.....what did your proposal document say re pay rises? Ours said they would be taken into account one month after the annual review was conducted.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
The 10%/50/50 ruling does not relate to payrises. I suspect that your IP will be conducting a full review once your salary increases to see if you can afford to increase your monthly payments generally - usually based on 50% of the increased disposable income.
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