Most of the climate change is brought about by motorcycles and vehicles. This fact prompted the national health service of England (NHS) to found the cycle to work scheme. The main goal of these schemes was reducing the carbon print made by car smoke by encouraging people to embrace cycling instead of driving and to help promote healthy living through cycling exercises.
The scheme’s main marketing agenda was that it had already formed contracts between employers and bike manufactures; whereby their customers get to save almost 30 per cent of the final selling price by paying a small fee over a while. The organization has now been running for nearly twenty years and has achieved several of its initial goals.
How does it work?
NHS founded an organization where several employers can apply to offer their employees bikes below $ 1000.The employee needs to sign up for sacrifice salary where they receive non-monetary benefits in return for their supposed initial pay. Instead of saving on the initial purchase, the employee saves on tax and NI contributions.The deduction is made before tax; hence, you get to save a few bucks depending on which equipment you got.
To apply to the scheme, one needs to:
1. Load the official NHS website to find bike shops around enlisted under the cycle scheme
2. Conduct your research on the preferred shop depending on your budget and the bike you want.
3. When you make the decision, ask for the cycle scheme quotation form so you can know your payment plan options.
4. Upload your details on the online application form on the Cycle scheme website then sign the hire agreement form.
5. Depending on whether you meet qualifications, you will receive your acceptance certificate or your denial email with reason.
6. If approved, contact your supplier for the collection details of your purchase and remember to carry your license for confirmation.
7. The scheme will automatically liaise with your employer; thus, a small payment will be deducted from your next paycheque henceforth.
Benefits of the NHS cycle scheme
Besides protecting the environment, Cycling has a million more benefits to the cyclist. Below are a few of the outstanding ones:
- You reduce your carbon print which can go a long way for the greater good of the environment
- You get to have a toned body from all the cycling.
- Since gym subscriptions cost a fortune, cycling is a cheaper option allowing you to save your coins.
- Fuel costs will be a thing of the past for you, so you get to spend the money on other necessities.
- Finding a parking spot can take the average citizen more than an hour, but with a bike, you save a lot of time
- Save a considerable percentage of about 32% on the final price of the bike.
- Cycling is a great weight loss tool preventing you from many diseases brought by obesity.
What happens after the renting time is over?
The NHS cycle scheme only lets you hire the equipment for a period after which you supposed to return it to your employer. However, have several options if at all, you still want to keep the bike. The possible options are;
1. Return the bike to your employer and receive no compensation for it
2. Extend the hire period you initially chose by paying a small deposit fee of 3% if under £500 or 7% if £500+. This is if your application to extend your employer accepts the limit.
3. Pay off the remaining price set out by the employer. You will save a little (18% if under £500 and 25% if £500+) off the initial cost of the bike. The bike will become your possession after 12 months.
If you terminate your contract for whatever reason before the lease period is over, your employer will be at liberty to decide to keep the bike. That hardly happens though as no employer will want your used goods back. They opt to charge you the termination fee initially agreed and any amount they chose to cover the remaining cost of the device.
Who is eligible for the scheme?
For your initial application, the NHS cycle scheme has a set of qualifications that you have to meet for your employer to approve your request. For example, after the monthly deductions are made, your salary should not go below the accepted minimum wage.
Also, you need to be a Greater Glasgow or Glade employee, and your employer has signed up to a provider like a cycle scheme.
Cycling is that thin you never knew you needed, which will change your life. It improves your health while also making your environment more livable.Even if you cannot cycle to work, you can cycle to run errands. In short, embrace the cycling culture and see yourself transform for the better. Just make sure you find a bike that works well with your needs and everyday life.