Hey there need some help with pay rise

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by ashbock123 » Fri Feb 02, 2018 9:26 pm
It doesn't say much about increase in pay in my documents. Just have been agreed a pay rise by Royal Mail of 5% back paided to October 2017 i went into the iva in September. Once I receive it will need to call them up and declare. How would they deal with that so you think would it be 10% 50/50 as it states about my overtime or would they want me to pay. Over 50% or would they want 100%
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by Foggy » Fri Feb 02, 2018 9:39 pm
The usual clauses for a permanent pay rise is that you get to keep all of the extra between the rise date and the next annual review of the IVA. It is taken into consideration at that review and the monthly IVA payment is increased by 50% of the extra from the month following the annual review. You do need to tell the IP as soon as you get the rise, otherwise they will notice the extra income and think it is overtime. Some IP's have also been known to try to get the increase right away, despite the agreed terms.
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