- What happens if an employee leaves or is made redundant during the Cycle2Work scheme? If an employee were to leave your company or be made redundant during their Cycle2Work salary sacrifice period, the remaining balance would simply be deducted from their last payslip as a net deduction. For more information check out our Cycle2Work page. Cycle2Work
- Where can employees redeem Cycle2Work? Cycle2Work is supported by a wide range of specialist bike dealers, this includes Halfords stores and online via click & collect on www.halfords.com. You can also redeem with Tredz at www.tredz.co.uk, alongside over 860+ independent bike stores around the UK and Ireland. Find out more on our…
- What additional benefits are available for Cycle2Work customers? All Cycle2Work customers will receive 10% off cycling essentials at Halfords for 12 months, giving them better prices on locks, lights and much more. As well as their savings of at least 47%, employees will also have access to in-store sales and promotional prices at Halfords and Tredz – meaning they…
- How quickly can employees collect their bike with Cycle2Work? As soon as you approve their Cycle2Work application, your employees will be immediately sent their Letter of Collection (LoC) via email. Providing their products are in stock, your employee can simply present their LoC, a form of ID, and collect their items! If their products are not in stock, they can…
- What is a Cycle2Work 'Letter of Collection' or 'LoC'? A Letter of Collection or LoC is exactly what it says - a letter that your employees use to collect their chosen bike and accessories for our Cycle2Work scheme! Check out our Cycle2Work page for more information. Cycle2Work
- What happens at the end of the Cycle2Work hire period? When your hire period is coming to an end, the Cycle2Work team will contact your employees via email and present the three post-hire period options for them to choose from. Check out our Cycle2Work page which breaks down the three options we offer. Cycle2Work
- Can an employee enter into more than one hire agreement at the same time with Cycle2Work? An employee may want to take out a second hire agreement which is absolutely possible on Cycle2Work. However, the total value must not take the employee over the scheme limit or below the National Minimum Wage. Employers may choose to remove this option, restricting employees to one hire term at a time. Cycle2Work
- Will joining Cycle2Work affect employees' pensions or other benefits? In some cases yes, although any effect is likely to be small. Your employees need to be made aware of the implications of paying less tax and NI contributions and accepting a reduced salary. They should get professional advice if they have any concerns or need more information. Cycle2Work
- Can Cycle2Work be added to my existing benefits platform? We work with the vast majority of benefit providers. For more information please check out our Cycle2Work page. Cycle2Work
- Is Cycle2Work part of any open frameworks? Yes, we are part of ESPO, NPS and CSS as an approved partner. Cycle2Work