The John Lewis Partnership is offering its 70,000 employees across the UK the chance to take part in a new Cycle to Work scheme called PartnerCycle. The programme, available to both John Lewis and Waitrose Partners, has been created and implemented by leading employee benefits provider, P&MM. This is the first time that the Partnership has introduced a salary sacrifice based cycle scheme for its staff.
Employees will be able to acquire the use of a new bicycle plus associated safety accessories and cycle clothing up to the value of £1000 from over 400 different independent cycle retailers located around the UK, with at least one independent cycle retailer within a 10 mile radius of each John Lewis or Waitrose store. The bicycle is hired for an eighteen-month period with fixed reductions made from employees’ gross salaries before tax. Income Tax and National Insurance contributions are calculated. Savings generated through this scheme equate to a saving of up to 40 per cent on the total cost of the bicycle.
Helen Brookes, Benefits Development Manager at John Lewis Partnership, commented: “I’m delighted to see PartnerCycle now finally being launched. I’ve been working on this scheme with a number of Partners across the business and I know there is a great deal of interest. Reducing your commuting costs, helping the environment – not to mention getting fitter – are great reasons to take advantage of PartnerCycle.”
Richard Davies, Head of Employee Benefits at P&MM, says: “We are delighted to be working with The John Lewis Partnership to deliver their first ever cycle to work programme for Partners. The PartnerCycle scheme offers a great opportunity for Partners to both stay fit and healthy and also contribute positively to the environment in their local area, after acquiring the use of a tax-free bike.”
The scheme opened on July 27 2009 and many Partners have already expressed an interest in the programme.