Pension Cycling to Work

NumptyPlus

If we are retired and have work pensions that we report as “employment” for PAYE,  are we able to claim cycle-to-work tax relief to buy a bike? Would this require pension companies to be registered under the scheme? 

Nomunnofun1

NumptyPlus said:

If we are retired and have work pensions that we report as “employment” for PAYE,  are we able to claim cycle-to-work tax relief to buy a bike? Would this require pension companies to be registered under the scheme? 

Where are pensions reported as employment? 

What ‘work’ are you cycling to?

Or - is this a wind up?

Dazed_and_C0nfused

And if not a wind up have a look at the Eligibility section here,

https://www.gov.uk/government/publications/cycle-to-work-scheme-implementation-guidance

flaneurs_lobster

I've got a pension in payment that's paid from a company payroll rather than that of a pension management company. It shows on my PAYE summary as Employment rather than Pension.

Doubt if my ex-employer (of forty years ago) is registered for Cycle to Work but in any case I wouldn't qualify for the scheme since:

I'm not an employee

"At least 50% of the cycle’s use must be for ‘qualifying journeys’, i.e. commuting to work purposes" - see above.

I don't know how to ride a bike.

NumptyPlus

Absolutely not a wind up and thank you Dazed and Confused for the link to the HMRC guidance. 

Pensioners “work” too with child care, charities, schools and various other things for which it would be good to have them cycling rather than driving. It offers environmental as well as health benefits that in turn should hopefully benefit the NHS. 

However, it looks like the current rules exclude us. Still, at least the Chancellor will keep warm on the contributions that the working and “retired” citizens pay. 

Thank you for your comments and, particularly, D&C for the link. 

MacPingu1986

NumptyPlus said:

Absolutely not a wind up and thank you Dazed and Confused for the link to the HMRC guidance. 

Pensioners “work” too with child care, charities, schools and various other things for which it would be good to have them cycling rather than driving. It offers environmental as well as health benefits that in turn should hopefully benefit the NHS. 

However, it looks like the current rules exclude us. Still, at least the Chancellor will keep warm on the contributions that the working and “retired” citizens pay. 

Thank you for your comments and, particularly, D&C for the link. 

No one is suggesting that pensioners don't work, or make valuable social contributions in the wider meaning of the word you've given above. The issue is that you're not making commuting journeys working for the employer who's operating the scheme.

I'm a keen (year round) cycle commuter and if I was in your position I'd look for a good value second hand bike and make your savings that way.