National Insurance Savings

Savings on secondary Class 1 National Insurance contributions

This is the great part; it's free for an employer to join up ! Then all administration, marketing and on-going support will be provided free of charge - Cycle Solutions will provide a fully managed Cycle to Work Scheme.

Because the employee pays for the loan of the cycling equipment through a 'salary sacrifice' the staff effectively reduce their gross pay. The employer then benefits by reducing their own employer's National Insurance contributions by up to 13.8% of the value of all equipment supplied. Not only is the scheme free to run, but it can also save your organisation a significant amount from the wage bill!

How much could I save?

See an example of what you could save on the Cycle to Work Scheme by using our online calculator!

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Your saving calculation

Total cost of bikes
and accessories:
Salary sacrifice: (from your Gross Pay)
Actual monthly cost: (from your pocket in each pay period)
Total cost: (over payment term)
You save:

This value is an estimate based on the information you have provided. The value is subject to change depending on the individual parameters on your employer's scheme. For a more accurate value please ask your employer for their scheme code.

The maximum value of £1,000.00 can only be exceeded if your organisation has its own consumer credit license in place, or if they have negotiated discounts with Cycle Solutions.

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Testimonials

Start of Quote SpeechmarkBefore we launched the scheme, we worked very closely with Cycle Solutions, along with key stakeholders from across the Group, to ensure that this new benefit was well communicated across all parts of the business." End of Quote Speechmark

Reward Manager, BGL Group

Start of Quote SpeechmarkI cannot recommend Cycle Solutions highly enough. It has been a success for the organisation, a breeze to administer from start to finish and a hit with the staff. We’ve had a great take up in our first year and an expectation of this to rise going forwards. End of Quote Speechmark

Wellbeing Officer , London Ambulance Service NHS Trust

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