A Brief Overview of Cyclesaver's Offerings

Cyclesaver is a provider of a Cycle to Work Scheme that offers employees the opportunity to acquire subscriptions for rental bikes through a tax-efficient salary sacrifice arrangement. This initiative encourages cycling as a healthier, more sustainable commuting option. 

Cyclesaver partners with a wide range of retailers, such as Forest, Santander, Beryl and Lime, offering employees access to a diverse selection of bikes.

Through the salary sacrifice model, employees can lease their desired bike by paying from their gross salary, allowing them to save on income tax and National Insurance contributions. Cyclesaver handles all the necessary administrative tasks, making it easy for employers to implement and maintain the scheme.

The Main Benefits for Employees

Employees who participate in the Cyclesaver Cycle to Work Scheme enjoy significant financial, health, and lifestyle benefits. 

One of the most compelling advantages is cost savings. Employees can save up to 47% on the total cost of a bicycle subscription due to the tax-efficient salary sacrifice model. This makes renting high-quality bikes much more affordable by reducing the amount paid on tax and National Insurance.

In addition to financial savings, the scheme encourages employees to adopt a healthier lifestyle. Cycling is an excellent form of exercise, and by incorporating it into their daily commute, employees can improve their physical fitness.

Cyclesaver offers a great benefit for those space saving employees who do not want to purchase a physical bike. Rental bikes from partners such as Lime allow employees the flexibility and opportunity to commute efficiently without taking up space in the home.

The environmental benefits of cycling are also significant. As more employees choose cycling over cars or public transport, they contribute to reducing carbon emissions, helping to create a more sustainable commuting culture. 

The Main Benefits for Employers

For employers, offering the Cyclesaver Cycle to Work Scheme is an effective way to enhance their employee benefits package. The scheme promotes health and wellness, which can lead to reduced absenteeism and higher productivity. Employees who cycle to work tend to experience fewer sick days, and their overall mental and physical well-being improves. 

Employers also benefit from National Insurance savings. The salary sacrifice model reduces the employer’s National Insurance contributions for each participating employee, providing a cost-effective way to offer a meaningful benefit. Furthermore, promoting cycling within the company aligns with corporate social responsibility (CSR) goals, helping organisations contribute to sustainability by encouraging eco-friendly commuting.

Offering the scheme also enhances the company’s reputation as an employee-centric and environmentally conscious employer, which can aid in talent acquisition and retention. Employees increasingly value companies that support their well-being and promote environmentally sustainable practices.

Any Special Features to Highlight

A key feature of Cyclesaver is the variety and flexibility it offers. 

• Employees have access to a broad range of bikes from trusted partners, ensuring they can find the best solution for their commuting needs. 
• Cyclesaver also provides comprehensive support throughout the process. From helping employees choose the right bike to offering ongoing monthly support.
• The scheme is managed through an easy-to-use online platform, with subscription codes linking up to the preferred partners app. 

Conclusion

In summary, Cyclesaver offers a highly beneficial Cycle to Work Scheme that delivers significant financial, health, and environmental advantages to employees while helping employers promote wellness, improve productivity, and contribute to sustainability goals. With flexible options, comprehensive support, and substantial savings, Cyclesaver is a valuable addition to any employee benefits package.