Everything You Need To Know About The Cycle to Work Scheme
How does the cycle to work scheme work?
Launched in the beginning of 2009, The Cycle to Work Scheme is meant to encourage individuals to cycle to work. The scheme includes all bicycles and pedicels (electric bikes) and accessories. The maximum limit is €1250 for a manual bicycle and €1500 for an electric one. Your employer is the one who needs to buy the bikes in order to benefit from this scheme. In fact, you’ll pay for your bike from your salary, but in 12 monthly instalments or less. This way, you can make up to 52% savings on your bike.
What should my employer do for me to get my bike?
When you place an order for a bicycle as part of the Cycle to Work Scheme, we issue an invoice and send it to you to pass it on to your employer. The employer needs to pay this invoice and then make the necessary arrangements for you to repay this loan.
We take credit cards and cheques, but we also accept back transfers. Keep in mind, though, that we can’t accept credit card payments over the phone. Should your employer prefer to use a credit card to make the payment, please give us a call at 01 4263610.
How can I help my employer get a quote?
Placing an order within the Cycle to Work Scheme is as easy as adding your desired products to the shopping cart and going to the checkout page. When you get prompted to enter your payment method, you’ll need to select “Cycle to Work” and follow the checkout process to the end.
Next, you’ll get a quote to pass on to your employer. Remember that all quotes are valid only for the first 72 hours.
What if the bike I want is more expensive than the limit of this scheme?
You can surely purchase a bike with accessories accounting for more than the €1500 limit. All you have to do is to pay for the balance yourself directly at the checkout. If, for example, you want a bike that costs €2500, you’ll pay €1000 at the checkout and the remainder as a salary sacrifice.
What if I retire or quite my job before completing all payments for my bike?
If you retire or quit your job before paying for your bike in full, you’ll have to discuss this issue with your employer and settle all outstanding amounts before the termination of your work agreement.
How often can I use the cycle to work scheme?
Every person is entitled to one bike every four years. If you can’t remember when was the last time you’ve used this scheme, you’ll have to ask your employer. They will surely offer you this information.
What can I buy through the Cycle to Work Scheme?
This program is for buying bikes and cycling accessories such as helmets, cycling clothing, safety gear, bike locks, lights, and mudguards among other things. Also, you can buy any type of bike you want, provided that you can justify using it to commute to and from work.
Can I take advantage of both the Travel Pass/Commuter Ticket and the Cycle to Work Scheme?
Yes. These two programs don’t exclude each other.
Can I use the Cycle to Work Scheme to purchase an electric bike?
Any pedal assist bikes, ebikes included, are eligible. Nevertheless, the upper limit of this scheme is €1500, so it may not be enough for an electric bike. If your model of choice is more expensive, you’ll need to pay for the balance yourself at the checkout. Still you’ll benefit from this scheme, but not for the full cost of your purchase.