Cycle To Work Scheme
Maynooth University is pleased to announce the continuance of the Cycle to Work Scheme which is open to permanent full-time / part-time staff and / or staff employed on a fixed term contract basis who are paid a fixed salary each month. As a result of the Government policy encouraging more employees to cycle to and from work, there is a tax saving available to eligible staff who forego (sacrifice) a portion of their salary and replace it with a bicycle and / or associated safety equipment purchased by Maynooth University where the bicycle and / or associated safety equipment is used by the employee mainly for qualifying journeys. The applicant’s employment and fixed salary must be capable of lasting until the salary sacrifice has been recouped, and as such, it is not possible for people paid solely through the On-Line Claims System to avail of the Cycle to Work Scheme.
The saving to the staff member is PAYE and PRSI at the relevant rates applicable to the Staff member. The employer saving is the relevant employers PRSI contribution. The University Policy adheres to the guidelines supplied by the Revenue Commissioners.
For further information please read the Cycle to Work Scheme Policy and return completed Cycle to Work Scheme Application and Agreement Form to the Human Resources Office, Riverstown Lodge, South Campus.