I presume if they have sent you a 'refund' you were underpaid at some point, yet still maintained your contributions so I would suspect you can keep that money.
Your net increase of £20 may mean a small increase in contributions will become due but after allowing for tax and any other expense increase etc might work out to nil.
size5 wrote:Depends on how the payment was calculated. If the erroneous figure was used, then technically it could belong to the IVA. If the right figure was used at the start, and you have suffered through no fault of your own with lower wages, then the money is absolutely yours. The extra £20 will be dealt with at annual review. Like as not bills will have gone up to offset, but the worst you can expect with that is £10 extra per month.
Sorry, you have lost me there.
What do you mean by "the right figure at the start"?
They hadn't worked out previous small pay rises correctly over a 3 year period and the refund was due to their error with this.
So do you mean the whole £440 would be mine or 50%?
And the extra £20 per month, should I tell them now or wait till annual review (that isn't until Mar 18)
Who is onlineUsers browsing this forum: No registered users and 0 guests
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, Vincent Bond and Co Ltd will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location