cycle to work
How does the cycle to work scheme operate?
The Cycle to Work Scheme is a salary-sacrifice employee benefit that enables participants to save up to 43% on the cost of a new bike and hundreds of pounds on their annual commuting costs. Over 2 million people across the country have used the scheme to obtain a bike. Affordability is one of the main benefits of the scheme, helping more people to commute in green and healthy ways.
What contribution does the scheme make?
- Users can save up to 42% on a bike through the scheme. To date 2 million people have taken advantage of the scheme.
- Over half of surveyed scheme user respondents joined the scheme because they could spread the cost over a 12/18 month period (54%), or because they were attracted by the savings that it offered (42%).
- Since joining the scheme, four-in-five participants claim that they cycle every week, up from just two-in-five before joining the scheme.
- Over 70% of scheme users said that cycling has led to improved physical health, with 65% of participants also saying that it has contributed to improved mental health and wellbeing.
- 90% of employers say that the scheme has had a positive impact on their employees’ wellbeing.
- A third of employers believe that offering the scheme has given them a competitive advantage in the recruitment and retention of staff, with almost half of employers agreeing that the scheme is integral to their organisation’s benefits package.
- Almost all employers expect usage of the scheme to increase or stay the same post-pandemic. While 40% expect to see greater uptake.
2 in 3
Employers offering the scheme said their main reason for doing so was to improve staff wellbeing by encouraging active travel8 in 10
Employers said the Cycle to Work scheme was either an important or very important benefit to their employees42%
Save up to 42% of the total cost of a new bike
- The Cycle to Work scheme is a crucial enabler of key government priorities including public health, decarbonisation and reducing the cost of living.
- Cycling can help to prevent and manage more than 20 chronic conditions and diseases like cancers, heart disease, Type 2 Diabetes and depression. Government should be using the scheme to drive positive active travel decisions to improve people’s health.
- The government has also committed to achieving Net Zero by 2050. Cycling is already firmly understood as a priority to reduce the nation’s carbon emissions. The Cycle to Work scheme is a proven mechanism for helping people to ditch polluting commutes for sustainable and active commutes.
- The rising cost of commuting is increasingly putting a strain on those on the lowest incomes in our communities.
- The Cycle to Works scheme facilitates retailers to welcome more customers into their stores as the reduced cost of cycling allows a greater number of people to purchase a bike.
- Scheme providers work with small and family run businesses to offer bikes to employees, helping support high streets across the country.