Good news for employees of companies working within the PC209. From now on, they can use their year-end bonus for bicycle leasing and embrace the financial, functional and environmental benefits of cycling in their commute.
Social Agreement
The social partners within the Joint Committee 209 for white-collar workers and the Joint Committee 111 for blue-collar workers in the metal fabrication industry have reached a sector agreement that will henceforth allow workers to convert part of their end-of-year bonus into a bicycle and/or additional leave days. Another step in the right direction to give the broad employee population access to a financially rewarding bicycle for commuting.
Conversion
The option to convert up to 50% of the end-of-year bonus into other benefits will be available to companies within PC 209 and 111 where the sectoral end-of-year bonus is at least one full month's salary. Initially, this will only apply to Flemish companies, although there are some exceptions.
The terms and benefits will take effect from the 2023 year-end bonus, subject to a company collective bargaining agreement. The conversion must be cost-neutral for the employer, and employees are also free to choose whether to participate. Those who opt for conversion can use this, among other things, to take out a tax-advantaged bicycle lease.
Bicycle leasing (?)
Bicycle leasing has become extremely popular over the past 5 years to offer to employees as a flexible form of compensation. You choose a package with bike, maintenance package, comprehensive damage and theft insurance and roadside assistance that you can use for 36 months. At the end of the term, you have the option to purchase the bike yourself.
Through salary exchanges (such as the year-end bonus), you can lease the package at favorable (para)tax benefits provided you use the bike for commuting.
