Over 1,500 rail workers have signed up to Network Rail’s cycle to work scheme since it launched in August 2012.
The introduction of the benefit has allowed employees to purchase £1.1m worth of bicycles and accessories tax-free.
Network Rail rewards and benefits manager Ian Turner said the cycle to work scheme provided a link into the organisation’s overall health and wellbeing strategy and he was pleased with the level of enthusiasm expressed by employees.
“We have received positive feedback not only about the speed they receive the cycle from point of order, but the overall professional and personalised service provided by the local participating stores. We look forward to running future successful schemes in 2013,” he said.
Reports from cycle to work providers suggest there has been an increasing interest in cycling since the success of British cyclists this summer.
Cyclescheme reported seeing its highest number of employer sign-ups for the scheme year-to-date in the week immediately following Bradley Wiggins' victory in the Tour de France while sales post-Olympics were 15% ahead of previous peak summer months.
And over the three weeks that followed the Tour, Evans Cycles reported a 150% increase in applications for its Ride2Work bike scheme.
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The programme for this year’s Professional Pensions Defined Contribution Conference – to be held in both London and Birmingham in September – has been announced.
Benefex have created a guide to communicating your reward and benefit scheme. This guide will help you build a rock-solid business case for investing in communications, help you review what you currently have in place and present new and innovative channels.
This guide will help you identify historic elements of schemes that are no longer relevant, different ways to adjust the level of premiums you pay and also get an understanding of whether your current benefits package is appropriate and delivering value for money.