No C2W Scheme Support Group

Should all us people who were never fortunate to work for an employer who offered C2W set up a support group so that we can console each other over paying full price for our bikes.

Also we could swop stories about people ramming it down our collective throats about how little they had paid for the same bike.
 

vickster

Legendary Member
You could always go and work for a company that offers you C2W.... ;)
However, there are also plenty of deals to be had on bikes....often those poor C2W people have to pay full price for their bikes, thus negating the savings...and they are tied to that employer for the term of the scheme which may not be a benefit
 

Slick

Guru
I've used it a few times now and do like it, but as Vickster says, there are lots of good deals out there and cash is still king. :okay:
 
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Nebulous

Veteran
Location
Aberdeen
I got a far better deal on my bike than I could ever have received from c2w. Sheer luck though.

My work does do it, but I haven't participated. There are several reasons for that, the £1k limit, worries about it impacting my pension and I don't really need another bike.
 

Sixmile

Veteran
Location
N Ireland
I have just, well 3 months ago, purchased a bike through C2W. I'm paying it every month but I don't physically have a bike as I didn't like what i ordered, returned it early on and haven't decided what to go for instead.

My work does do it, but I haven't participated. There are several reasons for that, the £1k limit, worries about it impacting my pension and I don't really need another bike.

I've never considered the effect on my pension as I wasn't aware that it would. What kind of implications are you talking about here if you don't mind me asking?
 

Hicky

Guru
Working for a Uni we have a great sustainability effort. Showers in many buildings, secure-ish parking and security that is on the ball and discounted bike lock scheme. We do have repair stands but they're always borked. If you are a car user you can have a % of your parking discounted or have a limited use discount. All in all it couldn't be better.
 

Nebulous

Veteran
Location
Aberdeen
I have just, well 3 months ago, purchased a bike through C2W. I'm paying it every month but I don't physically have a bike as I didn't like what i ordered, returned it early on and haven't decided what to go for instead.



I've never considered the effect on my pension as I wasn't aware that it would. What kind of implications are you talking about here if you don't mind me asking?

I'm a few years away from retiring, but may get an offer to go before that. The bulk of my pension is final salary, which means that part of my pension will be jus over half my last year's salary. Cycle scheme is a salary sacrifice scheme, where you 'sacrifice' £1000 of gross salary in return for a £1000 bike. I'm concerned that I take a bike, get offered an opportunity to go and find £1000 deducted from my final salary calculation. I'd get a cheap bike, but lose £500 a year (£10 a week) for the rest of my life.

That's worst case scenario, and will not apply to everyone, but others may find their pension contributions for that year are slightly reduced, which would have a much more modest effect on their pension.
 

Phaeton

Grumpy Old Barstool
Location
Oop North (ish)
I'm a few years away from retiring, but may get an offer to go before that. The bulk of my pension is final salary, which means that part of my pension will be jus over half my last year's salary.
I have typed my response to that comment 6 times, but in the end I have decided on ROFL
 

Moodyman

Guru
C2W is not that beneficial anymore.

Bike bought at full price, tax and NI saved are then lost to the final valuation and benefit in kind deductions. These can be minimised, but still, come with consideration.

There is also the technical ownership of the bike. The bike does not belong to the rider until the term has been completed and all payments made.
 

srw

It's a bit more complicated than that...
I'm concerned that I take a bike, get offered an opportunity to go and find £1000 deducted from my final salary calculation
Unlikely, but your HR department should be able to confirm.
 

Nebulous

Veteran
Location
Aberdeen
I have typed my response to that comment 6 times, but in the end I have decided on ROFL

FS pension schemes raise strong emotions for many people. Those who don't have them regard them as 'gold-plated' 'unaffordable' etc. Those who do have them are annoyed at the gradual whittling down of the benefits, the changed rules to raise the retirement age etc.

I'm fortunate enough to have been paying into one almost every year since I started nursing at 19.
 
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