Human Resources

Getting Started - Joining the Scheme

Birkbeck's cycle to work scheme offers tax savings on the cost of a bike through a salary sacrifice plan/hire agreement. The cost of the bike is met by the College and loaned to you for a 12 month hire period. The bike remains the property of the College during the hire period. Deductions are made before tax from your salary over the 12 month period.

At the end of the hire period staff may have the opportunity to purchase the bike as ex-rental equipment for fair market value. This is currently around 5 per cent of the original cost. This purchase would not form part of the hire agreement and would be a separate arrangement.

What's the Process?

Before you go and choose your bike, read the hire agreement, check whether a salary sacrifice arrangement is best for you,and if you meet the eligibility criteria and want to join the scheme, follow the process outlined below - most of which is done electronically online:

Step 1 : Click on the following link to look up our scheme and  find your nearest Cyclescheme Partner store..

Step 2: Visit your chosen bike shop, choose your bike and any safety equipment/accessories.. The bike shop will give you a Cyclescheme Quotation for the cost of the bike and any safety equipment.

Step 3: Go to our website with Cyclescheme and complete a voucher request online entering the details and costs as stated in the quotation;

Step 4: You will be asked to complete the Hire Agreement online and once you have done this, Cyclescheme will contact us to verify your eligibility to participate in the scheme and invoice Birkbeck College for the cost of the bike and safety equipment.

If your application is approved, you will receive an automated email confirming this and you should download a copy of the hire agreement for your records.

Step 5: Wait patiently! It can take between 2 and 4 weeks to complete the process from the date you sign your hire agreement until receipt of your bike as Cyclescheme require cleared funds before the voucher is released.. Human Resources will let you know when your voucher has arrived, this will be sent to your home address or may be collected from Human Resources on request.

Step 6: When you receive your voucher, visit the bike shop and exchange the voucher for your chosen bike (you will also need to take photographic ID to do this); and

Step 7: Before you start cycling, take out insurance for your bike - this is mandatory as although you are not the owner of the bike, you are responsible for maintaing and insuring it.

What Happens Next

Deductions will be made from your salary for a period of 12 months – deductions normally start from the month you receive your voucher.

At the end of the hire period, you may wish to become the owner of the bike and there may be an opportunity to purchase the bike as ex-rental equipment for a fair market value. There are new guidelines on what constitutes fair market value and more information may be found on the Cyclescheme website.  If you wish to purchase of the bike at the end of the hire agreement this would be by a separate arrangement through Cyclescheme Ltd.

Please note that if you leave Birkbeck's employ before the end of the hire agreement, any payments due under the hire agreement will be made from your net salary.

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The HR team is based on the first floor of Egmont House
Postal address: Human Resources, Birkbeck, University of London, Malet Street, London WC1E 7HX