Bonuses

TJ07

Hi guys,

Wondering what the stance is on bonuses, are we allowed to keep any of it at all? I may be due one in March but it would be small and though an insignificant amount relative to my debt, it would make a big difference to me and my year.

I can see the argument for saying no but at the same time, if bonuses are expected to be taken from us for the whole duration of our IPA, what motivation do we have to actually work hard? I can't see any reason to do any more than what's expected of me. Why work overtime?

(My IPA runs until April 2018)

egrescrimp

You will probably find that they will want your bonus unfortunately, if you need the money you might be able to persuade them to let you have it to cover the costs of say a replacement fridge freezer or pay for some unexpected car repairs so long as you provide proof of purchase/receipts etc.

Earning bonuses or even working overtime whilst in an IPA is pointless as they are likely to take it I've turned down a lot of overtime recently because I'm not going to work extra hours for nothing basically.

AndyBSG

Bonuses are pretty much up to the individual OR.

Some may treat them in the same way as overtime whereby they may take a percentage(generally 50%) others may treat them as a windfall which means they could take them all.

A lot will also depend on how much it is, i'd guess most OR's won't even bother if it's less than a couple of hundred quid.

Of course, this is if we're talking about a one off annual bonus. If for example you're in a sales job where bonuses are part of your monthly salary then these are treated differently as they're considered part of your standard monthly income.

Best advice is to contact your OR and find out as you'll have to declare it either way.