Virtual Schoolbag (VSB)
Important information for headteachers, about ESCC's forthcoming cycle to work scheme.
As you may have seen from our recent Virtual Schoolbag article, ESCC has recently launched a new staff benefits platform.
As well as the various offers and discounts available to employees under the platform, we are also planning to offer employees access to a cycle to work scheme, launching in early October.
The scheme allows employees to hire a new bike up to the value of £2000, and to pay for it as a 'salary sacrifice' from their monthly salary payments. The 'sacrificed' amount is exempt from tax and national insurance deductions, so the employee can save up to 32% compared to purchasing the bike direct, as well as spreading the cost over 12 months.
Under the terms of the scheme, if an employee leaves employment of the Council during the salary sacrifice period, they will be required to repay any outstanding funds from their final salary payment. This will also apply in the event that a school converted to an academy, as the employee would at that point cease to be employed by ESCC.
Full terms and conditions will of course be available to employees before they join the scheme, so they will be able to make an informed decision about whether the scheme is right for them.
However, if you have reason to believe that your school might convert to academy status in the near future, and would therefore like to opt-out of the scheme on that basis, please email Nicholas Earley using the contact details below, no later than 28 September. Opting out will mean that, should an employee based at your school apply to join the scheme, their application will be declined.
If you don't want to opt-out, you don't need to take any further action, and we'll share further information about the scheme with you in early October.