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Cost of Living increase

  • patwestham
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17 Nov 07 #6900 by patwestham
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Following bitter wranglings my new husband's ex wife and he signed a Consent Order to allow the financial side of things to be dealt with. We are now coming to the time of year where we need to consider increasing child support in line with the cost of living, what they don't tell you is where to find out this information......anybody got any ideas, before another round of heated discussions come winging this way about how evil we both are!!!!!

  • sexysadie
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17 Nov 07 #6907 by sexysadie
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Put RPI into Google and you should get a site with a figure. It's usually for the year up to the current month.

Sadie

  • Monitor441
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24 Nov 07 #7595 by Monitor441
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Pat. Does he pay through CSA or CSA rates or did he agree a cost of living increase every in the CO. If he does pay on the CSA method, it is all about his earnings and what increase he has from his employer

Mon

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24 Nov 07 #7597 by patwestham
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It was agreed as annual increase in line with cost of living, trouble is there is a lot of different perspectives on what that will be. Current favourite is about 4.1%

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24 Nov 07 #7599 by Camberwick green
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Sorry if I'm out of line with this comment... but your hubbys X should be thankful she is getting support in the first place!

Hope you get some good advice and the figures you are looking for

  • attilladahun
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24 Nov 07 #7607 by attilladahun
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Maintenance Payment Increases

If the Court order is silent then a fresh CSA application will be nec'y which may be a risk if H is getting less £ OR he has more overnight stays which give him a bigger discount by the CSA (Over 52 days 1/7th off -over 104 days 2/7ths off)
However, it is often agreed/ordered that maintenance payments will increase each year in line with the Retail Prices Index (RPI) to provide a degree of ‘inflation proofing’ without the need to make a further application to Court.

You will need to check your Court Order to find out in which month the increase is to take effect and for which months the RPI figures should be used. Orders are often drafted on the basis that the RPI figures should be taken for the month 3 months prior to the increase and the month 12 months prior to that (as there is often a delay before RPI figures are published).

Below is the information you will need to carry out the calculation – the formula and RPI figures for the last ten years.

Retail Prices Index

How to calculate the effect of inflation from one month to any subsequent month

The formula is X x A/B

Where

X is the figure to be inflated

A is the RPI for the later month

B is the RPI for the earlier month

e.g. £100 x June 2004 / June 2003 is

100 x 186.8 / 181.3

= £103.03

This means the recipient is entitled to a monthly increase of £3.03
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Jan 159.5 163.4 166.6 171.1 173.3 178.4 183.1 188.9 193.4 201.6
Feb 160.3 163.7 167.5 172.0 173.8 179.3 183.8 189.6 194.2 203.1
Mar 160.8 164.1 168.4 172.2 174.5 179.9 184.6 190.5 195.0 204.4
Apr 162.6 165.2 170.1 173.1 175.7 181.2 185.7 191.6 196.5 205.4
May 163.5 165.6 170.7 174.2 176.2 181.5 186.5 192.0 197.7 206.2
Jun 163.4 165.6 171.1 174.4 176.2 181.3 186.8 192.2 198.5
Jul 163.0 165.1 170.5 173.3 175.9 181.3 186.8 192.2 198.5
Aug 163.7 165.5 170.5 174.0 176.4 181.6 187.4 192.6 199.2
Sep 164.4 166.2 171.7 174.6 177.6 182.5 188.1 193.1 200.1
Oct 164.5 166.5 171.6 174.3 177.9 182.6 188.6 193.3 200.4
Nov 164.4 166.7 173.1 173.6 178.2 182.7 189.0 193.6 201.1
Dec 164.4 167.3 172.2 173.4 178.5 183.5 189.9 194.1 202.7

For further information, please contact This email address is being protected from spambots. You need JavaScript enabled to view it., This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it.

Disclaimer

The information provided should not be relied upon as a substitute for professional legal advice and it is essential that you verify all such information before taking any action in reliance on it.

Hope this helps

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