Pedal Your Way to Savings: The Bike2Work Scheme update

Pedal Your Way to Savings: The Bike2Work Scheme update

Ever wondered how you can save money, get fitter, and do your bit for the environment—all on your commute?

Enter the Bike2Work Scheme, the government’s cunning plan to get us all pedalling to the office.

What Is the Bike2Work Scheme?

The Bike2Work Scheme is a government-approved initiative designed to encourage employees to cycle to work by offering significant savings on bikes and cycling equipment. By participating, employees can save up to 48.25% on the cost of a new bike and accessories

Bike2Work Scheme.

How Does It Work?

  1. Employer Registration: Employers sign up for the scheme, receiving a unique PIN to share with their employees.
  2. Employee Selection: Employees choose their desired bike and equipment from over 2,200 partner shops Bike2Work Scheme.
  3. Quotation Submission: Employees obtain a written quotation and submit it to Bike2Work.
  4. Agreement and Payment: Both employer and employee sign a hire agreement. The employer pays for the equipment and provides the employee with a voucher.
  5. Collection: Employees use the voucher to collect their new bike and equipment.

The cost is recovered through a salary sacrifice arrangement, allowing employees to pay in instalments from their gross salary, leading to tax and National Insurance savings

Bike2Work Scheme.

Benefits for Employees

  • Financial Savings: Save up to 48.25% on bikes and equipment.
  • Health Improvement: Regular cycling boosts fitness and reduces stress.
  • Environmental Impact: Cycling reduces carbon emissions, contributing to a greener planet.
  • Convenience: Avoid traffic jams and public transport delays.

Benefits for Employers

  • National Insurance Savings: Employers can save up to 15.05% on National Insurance contributions.
  • Enhanced Productivity: Healthier employees are often more productive and take fewer sick days.
  • Corporate Social Responsibility: Promoting cycling demonstrates a commitment to environmental sustainability.

Case Study: Jamie’s Experience with the Bike2Work Scheme

Jamie Steel, a staff member at the University of Leeds, utilised the Bike2Work Scheme to purchase an electric bike for his commute. He found the process straightforward and highlighted the health benefits and cost savings. Jamie’s experience underscores the scheme’s effectiveness in promoting active travel and sustainability

Bike2Work Scheme.

“Cycling to work not only saves money but also enhances well-being and reduces environmental impact.”

Ready to Start Your Cycling Journey?

Embrace a healthier, more economical, and eco-friendly commute with the Bike2Work Scheme. Visit Bike2Work Scheme to learn more and sign up today.


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