About Gym Membership
Employees have access to reduced rates from 100s of leisure and gym providers nationwide.
Book a Free Consultation TodayThe medically proven health benefits of regular physical activity include up to a 50% lower risk of type 2 diabetes / up to a 50% lower risk of colon cancer/ up to a 20% lower risk of breast cancer / a 30% lower risk of early death / up to an 83% lower risk of osteoarthritis / up to a 68% lower risk of hip fracture / a 30% lower risk of falls among older adults / up to a 30% lower risk of depression / up to a 30% lower risk of dementia / up to a 35% lower risk of coronary heart disease and stroke.
“If exercise were a pill, it would be one of the most cost-effective drugs ever invented,” says Dr Nick Cavill, a health promotion consultant (NHS your health, your choices).
Frequently employees attend a gym close to their place of work. This can be beneficial in building peer-to-peer relationships with employees who work in different parts of the business and/or at different levels of seniority.
Employees have access to reduced rates from 100s of leisure and gym providers nationwide.
Book a Free Consultation TodayEmployees have access to reduced rates from 100s of leisure and gym providers nationwide. This could be local standalone providers, council-run gyms, or a national chain. The discounts vary from 3% to 40%, and all joining fees are waived. Even if your employee is an existing member of a gym, they can seamlessly switch from their current membership to the reduced Gym membership rate.
The employer confirms the limit that they wish to allow employees to spend up to on gym membership. We would recommend you operate Gym Membership an Anytime Benefit as it helps to spread the impact on cash flow over the year and gives employees greater flexibility.
The company pays for annual gym membership and the employee repays your business over twelve equal monthly deductions from salary. If the employee leaves during the repayment period any outstanding amount is recovered from final the salary.
If operated through salary sacrifice then the employee saves NI at 8% or 2%, depending on their personal rate of tax and BIK charge applies (this is the most common approach). This benefit can also be facilitated as a Net deduction with no BIK (employee does not make NI savings).