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!