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Posted: Mon Oct 26, 2009 9:16 pm
by andyd
hi all
Why is it that overtime cant be included into monthly income. I ask this as I am required to work at least 1 hour per day and every other Saturday
Posted: Mon Oct 26, 2009 9:24 pm
by kallis3
It's not wise to include overtime in your IVA payment. What happens if the overtime dries up?
At least if you have the 10% plus 50/50 rule you get to keep some of it rather than having to hand it over as part of your payment.
Posted: Mon Oct 26, 2009 9:28 pm
by andyd
Hi
If the overtime were to dry up then we would be out of work. I work for a shipping company and we sail on a saturday evening so we must be in on a Saturday
Posted: Mon Oct 26, 2009 9:30 pm
by kallis3
You will find that a lot of IP's don't include it, just in case.
Posted: Tue Oct 27, 2009 6:05 am
by Shining
As Kallis says you'll find it is for that reason that most companies won't include overtime as if it is lost then it would make your IVA payments unrealistic.
Posted: Tue Oct 27, 2009 11:43 pm
by MelanieGiles
If it is regularly earned, then there is no harm in including it as part of your regular salary. If the overtime is then lost, your IP ought to have discretion to reduce your payments by up to 15% so this should cover one lost hour.