Method and apparatus for managing data in a memory, such as a flash memory. In accordance with some embodiments, a solid-state non-volatile memory (NVM) has a total user data storage capacity and an overprovisioning (OP) level. A control circuit writes parity data sets to the NVM each having a plurality of code words and an outer code. The code words include inner codes at an inner code rate to detect and correct read errors in a user data payload. The outer code includes parity data at an outer code rate to detect and correct read errors in the code words. A code adjustment circuit increases the inner code rate to compensate for a measured parameter associated with the NVM, and decreases the outer code rate to maintain the data capacity and OP levels above selected thresholds.