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pm5
- Posts: 207
- Joined: Tue Mar 25, 2008 12:15 am
- Location: United Kingdom
Post
by
pm5 » Sat Jul 09, 2011 10:51 am
I have recieved a significant wage increase which is great.
At annual review do IP's normaqlly let you keep a certain percentage of it after I & E is taken into account or do they have all of the whats left of the wage increase
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Shining
- Posts: 27019
- Joined: Thu Sep 20, 2007 8:57 am
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Hi pm5, well done on the wage increase, have you informed your IP yet? It's best to keep them in the loop although I do know from reading the forum, a lot of posters are told it will be dealt with at review time. I think and it is only a think and I'm sure someone will come along soon to confirm that 50% will be payable into the IVA x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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kazzafunk
- Posts: 4749
- Joined: Sat Mar 19, 2011 6:47 pm
- Location: United Kingdom
pm5 - as lesley has said, you need to inform your IP now even if it won't affect your IVA payment until the next review.
In our IVA we can keep 50% of any such increases, but with the utility bills, fuel and food going up so much, I wouldn't be suprised if people get to keep most of their increases this year (not that I am getting one!!)
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howardmoon
- Posts: 28
- Joined: Tue Jun 21, 2011 11:15 am
- Location: United Kingdom
I hope i get a pay rise this year
![Smile :)](./images/smilies/icon_smile.gif)
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pm5
- Posts: 207
- Joined: Tue Mar 25, 2008 12:15 am
- Location: United Kingdom
Post
by
pm5 » Sat Jul 09, 2011 3:03 pm
I am told it will get dealy with at the annual review but I am putting 50% of it aside just in case
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kazzafunk
- Posts: 4749
- Joined: Sat Mar 19, 2011 6:47 pm
- Location: United Kingdom
I would say if you have been told that then you'll be ok. I have a letter from our IP confirming this but asking me to send in wage slips 6 monthly or if there's an increase (just to note).
Its great if you can save the 50% as it'll be a nice contingency fund or to buy yourself something as a treat.