Improve employee wellbeing and save on National Insurance contributions
What is Cycle to Work?
Cycle to Work allows employees to save money on bikes and cycling equipment from Halfords and a network of participating retailers, encouraging a healthier commute.
How does it work?
Things to consider when setting up Cycle to Work
At what times of the year will you give employees the ability to apply?
- Should employees be able to apply all year round?
- If not, how many windows will you run, and what will the dates be?
How would you like to manage allowances and repayments?
- You can set different monetary limits for a Letter of Collection per individual. This is especially useful for employees on lower band salaries, as repayments may take them below Minimum Wage
- How many months would you like to spread monthly repayments over?
How would you like to process applications?
- Pre-approval - you will need to supply additional information in your eligibility file to allow our system to perform eligibility checks.
- Post-approval - an administrator will need to manually review applications.
How would you like to pay for the orders placed during each window?
- We recommend setting up a Direct Debit, so payments to RG are automated, and we can dispatch Letters of Collection instantly
How many payrolls are there in your business? For each we will need:
- Name (e.g. Monthly) - required to assign users to the correct payrolls
- Frequency (monthly, weekly, fortnightly)
- First Pay Day to set up in the system (i.e. date employees are paid)
- First Cut-off Date (i.e. date the first deduction report will be available)
- Approver - one or more users to manage applications in each payroll
Who will manage your Cycle to Work programme on SmartPay™?
- Master Approver - can access payroll information, application details and product configuration settings for all benefits set up on SmartPay™
- Payroll Approver - can access all payrolls set up on SmartPay™
- Product Approver - can manage Cycle to Work configuration settings
Additional information for your eligibility file:
- Payroll name - required for each employee (if more than one payroll)
- Date of birth - required on Pre-Approval
- Annual gross salary - required on Pre-Approval
- Weekly hours worked - optional on Pre-approval (system default is 40)
- Weeks worked per year - optional on Pre-approval (system default is 52)
- Other gross salary deductions
- SmartPay™ Limit - optional, if you are setting a maximum allowance for the total amount of each employee’s RG benefit applications
- Cycle to Work Limit - optional, if you are setting a maximum allowance for each employee’s Cycle to Work applications