The New Pay Plan
Changes to your Pay Plan include:
- Additional £5 Extra Per Customer Product
- Increased IBA Development Bonus from £30 to £45 for each new qualified IBA
- Increased Team Bonus from £0.75p to £1.00
- Removal of the Annual Administration Fee
- Restructuring the way Residual Income is calculated
- Introducing the ‘Residual Income Equal Share Ruling’ for Platinum & Diamond Associates
- Removal of the Leadership Pool
- Removal of the Independent Business Member (IBM) position
- Removal of the Team Building Bonus
- Cumulative element of the Activity rule to be removed
As mentioned above, these changes are due to go live on Monday 4th May.
PLEASE NOTE: Unfortunately no refund can be offered to IBAs that have paid their Annual Administration Fee already as this is part of the Current Pay Plan.
For a more detailed explanation of the Pay Plan with the above amendments, please refer to the enclosed version we sent with the letter.
To sign up as a Business Associate, Click here