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Cycle Scheme

  

Cyclescheme is an employee benefit that saves you 25-39% on a bike and accessories. It also encourages alternative travel and reduces our environmental impact.

How does the scheme work?

The University of Dundee pays for the full cost the bike and any safety equipment you need. You pay this cost back through salary sacrifice arrangement over 12 months under a hire agreement with the University. 

At the end of the hire term Cyclescheme will contact you to discuss your options.

You make savings because salary sacrifice reduces your gross pay. This, in turn, reduces the amount of income tax and National Insurance that you pay each month. Savings are dependent on your personal tax code.

Cyclescheme is open to employees who:

You do not have legal ownership of the equipment during the 12 months hire agreement. It is your responsibility to insure the bicycle.

If your employment ends before the end of the hire agreement, the outstanding balance would be repayable immediately. If possible, the University will deduct this balance from your last net salary payment. This means that there would be no tax and National Insurance savings on the outstanding balance.

Scheme participation is available from 1 September and will re-launch again every 4 months (1 September, 1 January, and 1 May).

Applying for your Cyclescheme certificate

1. Learn more about the scheme and locate a retailer visit at www.cyclescheme.co.uk

2. Get a quote for your bike package from your chosen retailer. Remember, safety equipment can form all or part of your package too! The maximum retail value for the bike and equipment is £1,000.

3. Submit your request at www.cyclescheme.co.uk/e43666

If your application is successful 

1. The University will pay an invoice from Cyclescheme for the full retail amount of your bike package.

2. Cyclescheme will email your eCertificate within 4 weeks, which includes a redemption code.

3. To collect your bike package, take the certificate to your chosen bike shop along with photo ID.

Further information

 

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