company wont do the cycle to work scheme

[vimes]

hi all
i asked the company i work for if they would do the cycle to work scheme and they said they would look into but they have got back to me and said they wouldent somthing about it affecting my pension or some such excuse
anyone else had a similar experiance
lee

 

[rusky]

I asked about it, got shot down in flames BIG TIME about spending money unnecessarily, lots of effing this, effing that!!!

When my manager got in, he got bollocked because I had asked, then he came down & bollocked me again!

 

[vimes]

I asked about it, got shot down in flames BIG TIME about spending money unnecessarily, lots of effing this, effing that!!!

When my manager got in, he got bollocked because I had asked, then he came down & bollocked me again!

bloody hell m8 thats rough

 

[rusky]

My post made it sound mild!

 

[ramses]

hi all
i asked the company i work for if they would do the cycle to work scheme and they said they would look into but they have got back to me and said they wouldent somthing about it affecting my pension or some such excuse
anyone else had a similar experiance
lee

It does affect your pension, as the money is taken out before tax, which reduces your monthly salary, which in turn reduces the amount put into your pension as %age.

I went through all this at my old place of work, and they did the scheme. I decided not to use the scheme, as once you take the pension into account, and the buy back at the end of the year, I found it was to much hassle for not a great amount of saving. Not as good as they make it out to be anyway.

Although I say it affects your pension, it is not by much really, probably adds up over the course of the year, but again I doubt it's likely to make a huge difference to your overall pension fund.

 

[billy1561]

I am pushing for this where I work also. It's at the consideration stage presently. Year end too. Will post back when I hear anything particularly regarding pension.

 

[Norm]

It would affect your pension but you could easily compensate for the loss (say 5% of salary, so £50 on a £1k C2W loan) by sticking a proportion the savings that you have made into your pension.

The last place I worked that had a pension had a system whereby the employer matched the employee's contributions, so I'd have only had to stick in £25, which was about 10% of the amount I saved.

Ask your employer what else they could come up with that makes a return of around 40% on the purchase price of the bike, with the added benefit of tying the employee into a binding contract which will discourage them from leaving for the term of the loan and then see how stupid they feel complaining about spending money.

 

[400bhp]

It can affect your pension. It depends on what parts of pay are included and excluded from the salary your pension contributions are calculated on.

To change the pensionable salary will depend upon several factors, not least employment contracts and any separate pension scheme rules.

 

[biggs682]

yes the company i work for are on a 2nd rethink ,cant see what the issue is myself , but then i wouldnt use it

 

[davehann]

i work for a division of the NHS. you would think that an organisation in terested in heath and wellbeing would be interested in the cycle to work scheme for the benifit of their employees. they say they are, but have come up with crap excuses for not being in on the scheme for the last two years and dont look like buying into it whithin the next!

 

[Garz]

My company has people in the admin/HR role who just cant be arsed pushing it through. Not enough time this, not enough time that even though many people have presented all the forms and stuff required to start it up. The irony is we are also having trouble with parking spaces from the landlord company as we overspill into adjacent businesses parking slots. They are trying to encourage car sharing yet dont have CTW in place or adequate facilities but it's a no brainer from an employee perspective.