Bike to work scheme royal mail
Royal Mail offers a Bike to Work scheme to encourage employees to cycle to work, promoting a healthier and more sustainable commute. Here are the details:
What is the Royal Mail Bike to Work scheme?
The scheme is a tax-free benefit that allows Royal Mail employees to purchase a new bike and safety equipment through a salary sacrifice arrangement. This means that employees can reduce their taxable income by the amount they spend on the bike and equipment, and Royal Mail contributes to the cost.
How does it work?
- Employees choose a bike and safety equipment from a list of approved suppliers.
- The employee and Royal Mail agree on a salary sacrifice arrangement, where the employee's salary is reduced by the amount they spend on the bike and equipment.
- The employee pays for the bike and equipment through their reduced salary, and Royal Mail contributes to the cost.
- The employee can claim the bike and equipment as a tax-free benefit, reducing their taxable income.
Benefits for employees:
- Reduced taxable income, which can lead to lower tax and National Insurance contributions
- A new bike and safety equipment to help with their daily commute
- A healthier and more sustainable way to travel to work
- Potential to reduce parking and transportation costs
Benefits for Royal Mail:
- Encourages employees to adopt a healthier and more sustainable commute
- Reduces the company's carbon footprint
- Can help to reduce parking and transportation costs
- Supports employee well-being and job satisfaction
Eligibility:
The scheme is open to all Royal Mail employees who are based in the UK and are eligible to participate in the company's salary sacrifice scheme.
Approved suppliers:
Royal Mail has partnered with several approved suppliers to offer a range of bikes and safety equipment. These suppliers include:
- Halfords
- Evans Cycles
- Cycle Republic
- Decathlon
- Saris
Contact information:
If you're a Royal Mail employee interested in participating in the Bike to Work scheme, you can contact your HR representative or the Royal Mail Employee Benefits team for more information.
Remember to check the Royal Mail website or speak with your HR representative for the most up-to-date information on the scheme, as terms and conditions may change over time.