Ikea Group rewards loyalty with €96 million extra to co-workers pension fundings

Ikea Group has announced that it will be offering additional INR 150,120 each to its Indian co-workers’ pension fundings as part of TACK! programme. Tack! – ‘thank you’ in Swedish – is an IKEA Group Loyalty Programme where IKEA Group co-workers can receive an extra annual pension payout, in addition to existing pensions as an gesture of appreciation. This was introduced in 2013 and since then the IKEA Group has paid out €509 million globally. 
IKEA currently has close to 400 co-workers in India and plans to have 15000 co-workers by 2025, of which 50% will be women. The company is hiring 500-700 co-workers for each of its four stores that will open in Hyderabad, Mumbai, Bengaluru and Delhi/NCR cities. Every co-worker gets the same amount regardless of position or salary, and part-time co-workers are rewarded in proportion to their hours worked.
The same amount is allocated to all co-workers who have worked at IKEA for at least one full fiscal year. Once they reach their five year anniversary with the company, the accumulated money is paid out to their pension funds. After this, every annual pay-out goes directly into their pension funds.