Cycle to Work Scheme
Are you considering a healthier, more sustainable way of travelling? If so, then the Durham University Cycle to Work scheme may be just what you are looking for!
We are delighted to offer eligible staff the opportunity to sign up for the tax-free bike scheme, which will be run in conjunction with our partner Sodexo Motivation Solutions Ltd and Cycle2Work.
Applications for the scheme are completed through MyDurham, our employee benefits platform. If you already have an account, simply log in to MyDurham and you'll find the Cycle to Work scheme listed under 'Benefits' on the main page. If you don't have a MyDurham account, please contact the Reward team to check your eligibility and request an account: email@example.com. Further information on MyDurham can be found here.
Before applying for our Cycle to Work scheme, we strongly advise that you carefully read the Salary Sacrifice FAQs to ensure that you are eligible to apply and that you will benefit from the use of this scheme.
Cycle to Work is a government initiative that was introduced in 2001 to encourage more people to commute to and from work by bike, enabling people to make healthier choices and reducing the UK’s carbon footprint.
The initiative also allows you to make National Insurance savings on the cost of a new bike and safety accessories. These savings are achieved via salary sacrifice which is managed by us as your employer and lets you spread the cost across 12 months to make payments more convenient. More information on salary sacrifice can be found here.
Our maximum cap has recently increased to £2,000. You can apply for any amount from £100 - £2,000 in increments of £5 to spend on a bike and cycling equipment.
The scheme is run via salary sacrifice meaning you save between 32% and 42% on your new bike and accessories. You can see how much you could save by using this savings calculator. More information on salary sacrifice can be found here.
Firstly, research where you would like to get your bike from:
- Halfords instore or Click and Collect online (www.halfords.com)
- Tredz instore or online (www.tredz.com)
- Selected independent bike shops (visit our store locator on www.cycle2work.info to see your local options or check with your local independant bike store)
Then decide what value you want to spend on your bike and safety equipment. You can choose to take between £100 and £2,000 in increments of £5.
Now log in to MyDurham (see above if you have not yet registered for MyDurham) and select the Cycle to Work option from the 'Benefits' tab on the main page. You will need to have a copy of your payslip to hand as you will be asked for details contained within this. Complete all the details as instructed, choosing the value of Letter of Collection (LoC) you require.
Complete your application following the onscreen instructions. You will need to read and electronically tick to accept the Hire Agreement terms and conditions and then electronically sign your Salary Sacrifice Agreement. Once your application is complete you will receive an email with a copy of your electronically signed Salary Sacrifice Agreement and a copy of the Hire Agreement terms and conditions that you have accepted. You will receive a confirmation email after your registration has been approved by your employer and exported to Cycle2Work, your LoC will be emailed to the email address supplied within approximately 1-3 days.
Lastly, take your LoC to your chosen store or use the voucher online and exchange it for the bike and safety equipment of your choice.
Detailed FAQs about the scheme can be found on the application portal which is accessed via MyDurham (see above if you have not yet registered for MyDurham).
You can also contact Sodexo by phoning 01908 303 498 or you can contact the Reward team by emailing firstname.lastname@example.org.