in the last few months due to staff illness i have worked a considerable amount of overtime,i submitted my payslips and payed the extra payments due.thankfully the staff have returned,extra people have been employed to cover sickness and holidays, so overtime has come to an end.
in my annual review should my income be assessed on my average pay over the last few months or my basic salary.
my other piece of advice copperfield is mr micawcer said, annual income £20 annual expenditure £19/19s/6d result happiness, annual income £20 annual expenditure £20/6d result misery.
charles dickens
Hi, this happenened in my IVA where i was doing overtime for a long period and from my experience your annual review will be be based on your basic salary.
I always earn bit extra every month due to unsocial hours payments, this usually equates to around £200 above my basic pay, however, I know my IP does not take this into account when working out my IVA payments and they always use the basic pay I earn and then treat the rest using the 10%, 50/50 rule, there is always the chance that my hours may change so I won't work unsocial anymore or they could change the payment structure and again with overtime, if it is not guaranteed income, it would be very unfair for your IP to use it as a means to base your payments on.
It should always be assessed on your basic salary.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Micawber I would certainly back-up what the previous posters have stated. Overtime should be treated in the 10/50/50 rule.
Since getting my IVA I had regular overpayments of overtime ranging from £14 up to as much as £800 in one month, however, my own company then made redundancies and brought some of those individuals back on a cheaper rate to work "as & when" and subsequently my overtime came to an abrupt and sudden halt.
Had my IVA been worked out to include "average" overtime then I certainly would of been deep in the mire in respect of my payments. Thankfully with the 10/50/50 rule the sudden drop in overtime had no dire consequence on my payments.
By the way what does your IVA proposal state in relation to overtime etc?
By the way in my own circumstance my employer has not implemented any wage rise in the last 5 years, we had 3 redundancy phases in 2011 alone, we receive no annual bonus and "overtime" was/is our only method of making extra income. Just hope the job can last at least another 3 years!
Last edited by Pennyless on Sat Feb 11, 2012 9:29 am, edited 1 time in total.
I came into this world with nothing and still have most of it left!
I agree, it is very dangerous to base income on average earnings unless much of the income is commission based.
Use basic pay and pick up any overtime under the 50/50 rule
