Ikea will contribute an additional $153.5 million to its employees’ retirement savings programs this year, as part of Tack!, its loyalty program.

“At Ikea Canada it is our co-workers that are the key to developing our business, meeting our customers and delivering results,” said Stephen Bobko, country human resources manager at Ikea Canada, in a news release. “Fiscal year 2016 was another exceptional year and we would like to thank our co-workers for their contributions to our ongoing success.”

Read: Ikea expands benefits package

Each full-time Canadian employee who has been with the company for at least five years will receive an extra $1,235 in their group registered retirement savings plan. Part-time employees will receive an amount proportional to their hours worked.

Since launching globally in 2013, Tack! has contributed an additional 413 million euros to employees’ retirement funds, divided between each country based on its proportion of total salary and wages. Tack! contributions aren’t triggered unless the company meets its financial goals.

Read: 65% of Canadians are ready to leave their current employer: survey

Copyright © 2017 Transcontinental Media G.P. Originally published on benefitscanada.com

Add a comment

Have your say on this topic! Comments that are thought to be disrespectful or offensive may be removed by our Benefits Canada admins. Thanks!

* These fields are required.
Field required
Field required
Field required