First of all please review the terms of your specific proposal, to see whether there is any provision for statutory interest to be paid, in the event that you manage to pay your creditors in full. Statutory interest runs at 8% per annum, and it would be unusual to pay this in an IVA, but do check to be sure.
If no interest is payable, then you are likely to repay your debts off earlier as a result of your pay-rise - which must be a nice feeling! And even nicer to know that you can start to enjoy the rewards of your own labour at an earlier point as well!
Well done on having such a positive attitude to your IVA settlement.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
For further details contact me at http://www.melaniegiles.com
and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk