Former Visteon workers and Unite are close to launching legal action to rescue their pensions.
Visteon UK went into administration in April last year, leaving more than 600 people out of work when it closed its car parts factory in Christopher Martin Road, Basildon, as well as factories in Enfield and Belfast.
The Government-run pension Protection Fund is set to take over Visteon UK’s retirement scheme, but this could mean a drop of up to 50 per cent in the former car workers’ monthly pension payments.
Unite has taken legal advice and workers believe court action is imminent.
They hope this will force Ford, which set up Visteon in the 1990s, to take back responsibility for their pensions. Visteon UK pensioner Paul Bailey, 60, of Wincoat Drive, Benfleet, said: “As far as we’re concerned it’s a no-brainer.
“Ford mis-sold the situation when they transferred us from the Ford to the Visteon pension fund and they should take back responsibility.
“A lot of the people affected paid into the Ford pension scheme for more than 20 or 30 years, before they were transferred to Visteon. We were loyal to Ford for all those years and it owes us.”
Some of the former Visteon workers lobbied this week’s annual Unite conference, in Manchester, and were told by Tony Woodley the union was seeking fresh legal advice.
The pensioners claim they were given assurances by Ford, when their factories were transferred to Visteon UK, they would retain equal pay and conditions to staff who were still employed directly by the global car giant.
Because of the pledge to retain equal conditions, the former staff believe they should still be entitled to equivalent pensions to Ford workers. Ford has so far denied further responsibility towards its former workers.
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ReplyDeleteAn annuity is used to provide a regular monthly or annual income in exchange for a one off lump sum. There are two main types of UK annuity. A pension annuity and a purchased life annuity.
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