Cycle to work Scheme

bainbridge · 30 Jun 2021 at 11:19

The flex benefits package with my employer closes today, so I need to decide if I want to join the scheme. Bike prices seem to have shot up, a few "best bikes for £1500" or "best bikes for £2000" articles written this year have live links to the bikes for sale and the prices are way over the figures quoted in the articles. Furthermore, availability is almost non existent, wiggle, CRC, tredz have basically nothing in stock in common frame sizes and when I looked at a build from Ribble they quoted and end of December supply date.

So, if I were to join, I'd potentially get a 2020 model a few days before 2021. Apparently the supply issue isn't going to get better any time soon, it's going to be like this for the next couple of years. I don't have a road bike, and after doing a 48 mile road ride on Sunday (tour de Bristol) riding a steel tourer with front and rear racks and 45mm tyres, I want one. The cruising speed of my tourer is much slower.

Just venting really

Trifid · 30 Jun 2021 at 12:37

I would say bite the bullet still and buy the bike you want, even if paying over the odds. On Cycle2Work, I would recommend you also take into consideration any loss of pension in the total paid.

bainbridge · 30 Jun 2021 at 13:20

Trifid said:
I would say bite the bullet still and buy the bike you want, even if paying over the odds. On Cycle2Work, I would recommend you also take into consideration any loss of pension in the total paid.

Good point about pension contributions. There's lots of 0% finance options from retailers with no money taken before delivery, or a small deposit. I wonder if, while waiting for a build, the company moves onto 21MY would they supply a newer bike? I might ask

mattyfez · 30 Jun 2021 at 14:10

Trifid said:
I would say bite the bullet still and buy the bike you want, even if paying over the odds. On Cycle2Work, I would recommend you also take into consideration any loss of pension in the total paid.

I didnt think C2W would affect your pension contributions?

Trifid · 30 Jun 2021 at 14:30

mattyfez said:
I didnt think C2W would affect your pension contributions?

Our cycle2work calculator did when I looked at it before (defined benefit pension). It's worth asking the question when exploring the option anyway.

Edit: pretty sure I asked on here about it and someone else said their workplace allowed you to top back up.

kefkef · 5 Jul 2021 at 10:29

mattyfez said:
I didnt think C2W would affect your pension contributions?

From memory. The C2W scheme takes their contribution first pre tax/NI/pension, then if you are in a contributory pension they take the pension amount. So if you earn £2000 a month and pay 10% pension contributions, that would normally be £200 into your "pot", if you then have a C2W bike, and they take e.g. £100 per month, you are then only paying 10% of £1900, so £190 into your pension pot. Happy for someone to correct my views on it though as i'm not a financial adviser.

Junglist · 5 Jul 2021 at 20:35

bainbridge said:
I don't have a road bike, and after doing a 48 mile road ride on Sunday (tour de Bristol) riding a steel tourer with front and rear racks and 45mm tyres, I want one. The cruising speed of my tourer is much slower.

Just venting really

Are you me? Literally in the same position as you. The weekend before last I rode from my house in Fishponds to Yatton via Cheddar Gorge. All in all, including our little excursion where we got lost, it was just under 50 miles in the end.

Did it on a fixie, my partner was on a hybrid and the others were on road bikes. 2 of which were electric. We've both got the itch to get some Road Bikes and as it was a lovely ride but it was way harder than it needed to be!