Virtual Schoolbag (VSB)
Important information for headteachers about our forthcoming bike scheme.
As you might remember, ESCC ran an employee bike scheme last Autumn, and we are hoping to open it for applications again shortly.
As before, 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 8 March. 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 March.
Phone: 01273 335061