Pay rise due 4th may

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ashbock123
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by ashbock123 » Sun Apr 22, 2018 8:26 am
I am due a 5% pay rise on the 4th of May back dated to October last year will I have to pay over like in my clause keep 10% of my weekly amount then 50/50 to them or back payment of pay rise different.

Help would be appreciated credit fix said to email payslip over and they would sort out.
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Foggy
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by Foggy » Sun Apr 22, 2018 8:41 am
The 10% 50/50 rule applies to overtime and bonus payments. Permanenrt pay rises are dealt with at the review following the pay rise and the IVA payment increases by 50% of the increase the month after that review. Between the rise and review you get to keep all of the increase. So a lot, here, will depend on relevant and relative dates.
ashbock123
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by ashbock123 » Sun Apr 22, 2018 1:18 pm
Ok thanks foggy so should get to keep all of it and when get to my review in September this year will have to increase by 5% a month
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kallis3
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by kallis3 » Sun Apr 22, 2018 3:44 pm
Just let your IP know immediately about the rise and you should be ok.
ashbock123
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by ashbock123 » Mon Apr 23, 2018 10:43 am
Foggy wrote:
The 10% 50/50 rule applies to overtime and bonus payments. Permanenrt pay rises are dealt with at the review following the pay rise and the IVA payment increases by 50% of the increase the month after that review. Between the rise and review you get to keep all of the increase. So a lot, here, will depend on relevant and relative dates.


Spoke to credit fix today foggy they said will have to sent payslip over and the back pay will be treated as a windfall is that correct
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Foggy
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by Foggy » Mon Apr 23, 2018 11:30 am
If they treat the back pay as a windfall, which they can interpret as such, then they should not increase your IVA payment until after the next review. If the back pay is under £500 and you have the usual windfall clause you should be able to keep that as well.
ashbock123
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by ashbock123 » Mon Apr 23, 2018 12:00 pm
Thanks foggy will check that when get home might be more than that before tax and national insurance is taken off
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Foggy
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by Foggy » Mon Apr 23, 2018 12:21 pm
ashbock123 wrote:
Thanks foggy will check that when get home might be more than that before tax and national insurance is taken off



The important figure is what you end up with in your pocket, after Tax and NI.
mumof3
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by mumof3 » Fri Apr 27, 2018 1:22 pm
Sorry to jump on post. So if my husband gets a pay rise this June we get to keep the extra income until our review? Then after that we keep 50% of the rise?
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recovering
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by recovering » Fri Apr 27, 2018 1:58 pm
Don’t be afraid to challenge them! CF told me my tax rebate was a Windfall ... it wasn’t! Check your agreement and if you think they are wrong argue!
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Foggy
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by Foggy » Fri Apr 27, 2018 2:53 pm
mumof3 wrote:
Sorry to jump on post. So if my husband gets a pay rise this June we get to keep the extra income until our review? Then after that we keep 50% of the rise?


That is how it should be if you have the usual clauses. After the review you pass over 50% of the net increase (after tax and other deductions).
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