There can be few things in life as game-changing as ditching a tiresome commuting routine for the freedom of that morning cycle or that joyous ride home. As - collectively - we grow more conscious of the impact older modes of transport are having on the environment, only more weight is added to the shifting mindset that we should all be trying to change the way we do things for the greater good of us all.
One such scheme is CYCLE TO WORK. This is a benefits scheme that seeks to encourage employees to change the way they commute. Through the opportunity to save up to 47% off a new e-bike from your employer, you must agree to a deduction from your earnings, which is commonly known as a salary sacrifice.
HOW IT WORKS
It couldn’t be easier. If your employer is part of the Cycle To Work scheme, they will be able to provide you with the necessary code to sign up. You can then choose which of the MATE e-bikes/or accessories you would like to purchase, and then apply with your employer code. The code will tell you the total value and, once your employer has approved your application, you will receive a letter of collection.
Once your Cycle To Work scheme has started, the designated salary sacrifice will be deducted from your payslip over 12+ months. The length of the salary sacrifice is determined by the individual scheme.
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