Pay rise

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Bob451

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Post by Bob451 » Mon Jan 03, 2022 1:57 pm
Hello Everyone
Would like to wish the group a Happy New Year.
In between Xmas and new year week I received an email from my company that I’m to get a £10 a day pay rise.
I’ve just contacted my IP supervisor and I’m delighted to say that I get to keep the pay rise , which is part of my 10% I’m allowed
1st review will be in July this year so only 4 more years to go.

Foggy

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Post by Foggy » Mon Jan 03, 2022 2:22 pm
According to the wording of most Protocol agreements a permanent pay rise is to be taken into account the month following the review after the pay rise is granted, at which time the IVA payment increases by 50% of the net pay increase, so you might find that your payment goes up by around £20 a month after the July review.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
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Bob451

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Post by Bob451 » Mon Jan 03, 2022 5:20 pm
Thanks Foggy I did think that myself.
Be interesting to see what happens on the review

bowline

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Post by bowline » Tue Jan 04, 2022 11:47 am
£10 a day is a nice rise!

But some will go in tax and more will be taken in April when National Insurance goes up and energy bills and council tax are all set to rise in April as well for.

When it comes to your annual review make sure you tell them about all your expenses that have increased as these should be taken into account.

luluj

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Post by luluj » Tue Jan 04, 2022 12:16 pm
A decent gross pay rise that will sadly be swallowed by increase living costs this year. Make sure as others have said to record accurately at review time your expenditure - start to note any increases from now so you have your list ready especially utility bills in the next few months.
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kallis3

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Post by kallis3 » Tue Jan 04, 2022 12:29 pm
luluj - predictive text :D ? I know what you mean though.

My gas/electricity is going up by £100 a month from Feb.
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Bob451

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Post by Bob451 » Wed Jan 05, 2022 5:26 pm
Thanks for the advice everyone .
I’ll keep a good record of all relevant expenses for my review in July
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