The team at pioneering Cycle to Work Scheme provider, Green Commute Initiative (GCI), are often asked whether an employee approaching their retirement can use the Cycle to Work Scheme. The answer is a resounding yes. We believe this growing demographic should be able to reap the rewards of the scheme’s tax savings and also the health and life benefits of cycling.
Confusion about scheme participation can arise from previous experience with traditional scheme providers who use combined hire and salary sacrifice agreements. This limits options for both employers and exiting employees. However, when GCI launched in 2016, we uniquely decoupled these agreements so they run independently and between different parties. Therefore, changes to one agreement does not impact the other.