Staff Benefits - Cycle to Work scheme (ESPO Framework -319)

CONTRACT AWARD - Via the ESPO Staff Benefits Framework - (Cycle to Work Salary Sacrifice Scheme) - A cycle to work scheme allows employees to hire their cycle from their employer over a 12 month period. The employee hires the equipment from their employer. The employee must use the bike to travel, at least in some part, between home and work. The employer pays the value of the equipment at the start of the agreement. All costs for the cycle are paid back to the employer from salary under a salary sacrifice arrangement. The hire agreement is for a period of 12 months. The transfer of ownership at the end of the scheme is managed by the supplier. At the end of the hire period the employee can return the cycle or keep it subject to the payment of a nominal amount.