Twelve months into an iva.

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No1

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Post by No1 » Sat Oct 03, 2009 7:51 am
Twelve months into an iva. My employers are currently undergoing a management restructure and are offering me an opportunity for a promotion to Nightshift manager. While the promotion itself will not increase my basic salary the change in shift pattern onto a 3 days (nights!!) on 3 days off pattern would greatly improve our family work-life balance. Whilst there would be no increase in basic pay this job change would attract a 15% nightshift premium. My question is this.......... would this extra 15% salary be viewed as a straight pay increase or would it be seen as "additional monies earned", thus falling into the bonus/overtime category (50% of 90%)?
 
 

Debtwitch

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Post by Debtwitch » Sat Oct 03, 2009 8:08 am
Hi No1

I would expect your IP to treat this as a bonus and share the increase 50:50, but before you commit yourself, speak to your IP and have the matter confirmed in writing to avoid any future misunderstandings.
Kind regards,

Angela Rosler
Insolvency Manager

Helping people with their debt problems for nearly 10 years.

Contact me directly for free, impartial, confidential help and guidance.
 
 

RooRoo

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Post by RooRoo » Sat Oct 03, 2009 9:17 am
Hi, my shift pay has been taken into total earnings and not a bonus. Have been told any overtime or bonus's on top of this wil have to be shared 50:50
 
 

MelanieGiles

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Post by MelanieGiles » Sat Oct 03, 2009 11:17 am
If your IVA follows the IVA protocol, you would be able to earn up to 10% of your current basic without having to pay anything over to creditors, so this would seem a fair way of dividing up that extra income. Have a read through your IVA proposal to see what it says on this.
Regards, Melanie Giles, Insolvency Practitioner
 
 

Fox84

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Post by Fox84 » Sat Oct 03, 2009 11:21 am
I would argue that this would come under the 50% rule as it is not part of your basic salary.
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