Visteon pensioners fight on as High Court beckons (From Southend Standard)
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Visteon pensioners fight on as High Court beckons
8:00am Thursday 21st March 2013 in Echo News By Luke Lambert
Visteon's former workers want their pensions back
FORMER workers at Visteon have vowed to fight until the very end as they fight to reclaim their pension at High Court.
Ex-workers have been fighting Visteon’s parent company Ford for compensation since 2009, when the firm – which had factories across Britain – went into administration.
Dennis Varney, a former employee, was due to testify to the judge as a test case but now all 1,400 affected employees will hear their cases tried as one. Mr Varney, worked for Ford for 31 years, before he was transferred to Visteon in 2000 and retired six years later.
Mr Varney, 62, of the Lindens, Langdon Hills, paid into Ford’s pension fund for 32 years, then into Visteon’s for a further five. After the company went under he lost thousands of pounds a year, meaning he was unable to spend his retirement as he had planned it.
He said: “My life changed significantly. I lost many thousands of pounds and that affects how you choose to spend your retirement. I would have loved to go on some holidays with my family. The only job I now have is fighting for my pension."
Paul Bailey, 64, of Wincoat Drive, Benfleet, spent 35 years with Ford and Visteon and said he was particularly concerned that the widows would lose out. He took voluntary redundancy with conditions in 2003 but carried on working for eight years afterwards on contract with Ford.
He said: “It changed everything for me. I obviously had to work for much longer than I anticipated and I wasn’t able to help with a number of other things I had planned. I wanted to help with their education but it is a kick in the teeth when all you had sorted in your mind. I wanted to enjoy retirement but it has been a constant fight."
Andy Belch, 65 from Shoebury, retired in July 2001, having worked for Visteon for just over a year. He only transferred his pension across four months before he left.
Mr Belch said: “The Visteon pension fund only started in March 2001. When they went into administration I had been retired eight years and because of their refusal to pay of pensions I have lost at least 20 per cent. “What about the widows as well? They will be hugely affected. If I was to die my wife would lose about £400 a month. We work all our life to provide for them and I question how my wife would be able to provide for herself if I wasn’t here. That is not the way it should be.”
Comments(11)
Carnabackable
says...
10:15am Thu 21 Mar 13
laindonangler
says...
11:21am Thu 21 Mar 13
Carnabackable wrote:FYI back in the days before so called Pension / employment law reform after 6 months it was part of your contract to be part of the Defined Benefit Company pension. That meant contributions at the same level as Private Plan to yield a reasonable Pension. Given this original pension was very secure would you feel the need to go and take another expensive Pension Plan - Unless of course you have money to throw away. The crux of this issue was that they were assurances were made by Ford that their Pensions were secure when they were transferred form Ford to Visteon.
Should have taken out a private pension plan, and looked after yourself, as opposed to relying on others...
This is a complex issue as such is deserving of supportive comments.
No I am not a Visteon Pensioner but an interested party who could be in the same boat, so I have researched this and give the guys my whole hearted support.
perini
says...
11:28am Thu 21 Mar 13
Carnabackable wrote:You really are a complete prat! As above, it was part of the t's and c's that you joined the company pensionscheme after 6 months service. Ford then gave assurances in writing that there would be no change for those transferring to the newly formed Visteon.
Should have taken out a private pension plan, and looked after yourself, as opposed to relying on others...
Ironman
says...
12:08pm Thu 21 Mar 13
perini wrote:Perini,
Carnabackable wrote:You really are a complete prat! As above, it was part of the t's and c's that you joined the company pensionscheme after 6 months service. Ford then gave assurances in writing that there would be no change for those transferring to the newly formed Visteon.
Should have taken out a private pension plan, and looked after yourself, as opposed to relying on others...
The blokes a joke. Ignore the Prat.
I was at Ford at the time, and everyone understood that Ford pension would remain sacrosanct and would continue to be so under Visteon. Thats why so many people accepted the transfer. Otherwise, why would they???
It's another typical 'backstab' from the wonderful world of Ford. I hope it costs them millions.
notinwestcliffanymore
says...
1:57pm Thu 21 Mar 13
Ironman wrote:Were the terms at visteon different.. the problem is not the terms but the fact the company went down.
perini wrote:Perini, The blokes a joke. Ignore the Prat. I was at Ford at the time, and everyone understood that Ford pension would remain sacrosanct and would continue to be so under Visteon. Thats why so many people accepted the transfer. Otherwise, why would they??? It's another typical 'backstab' from the wonderful world of Ford. I hope it costs them millions.Carnabackable wrote: Should have taken out a private pension plan, and looked after yourself, as opposed to relying on others...You really are a complete prat! As above, it was part of the t's and c's that you joined the company pensionscheme after 6 months service. Ford then gave assurances in writing that there would be no change for those transferring to the newly formed Visteon.
Carnabackable
says...
2:49pm Thu 21 Mar 13
perini
says...
3:51pm Thu 21 Mar 13
notinwestcliffanymorFord / Visteon promised 'mirrored' terms but failed to fully contribute into the pension fund so when Visteon closed its doors the pension fund was eventually taken over by the government scheme.
e wrote:
Ironman wrote:Were the terms at visteon different.. the problem is not the terms but the fact the company went down.perini wrote:Perini, The blokes a joke. Ignore the Prat. I was at Ford at the time, and everyone understood that Ford pension would remain sacrosanct and would continue to be so under Visteon. Thats why so many people accepted the transfer. Otherwise, why would they??? It's another typical 'backstab' from the wonderful world of Ford. I hope it costs them millions.Carnabackable wrote: Should have taken out a private pension plan, and looked after yourself, as opposed to relying on others...You really are a complete prat! As above, it was part of the t's and c's that you joined the company pensionscheme after 6 months service. Ford then gave assurances in writing that there would be no change for those transferring to the newly formed Visteon.
Carnabackable
says...
6:00pm Thu 21 Mar 13
Ironman wrote:So you worked at Ford did you? couldn't get a real job, and now haven't got a real pension, oh diddems, oh well enjoy the state pension, whilst you can.
perini wrote:Perini,
Carnabackable wrote:You really are a complete prat! As above, it was part of the t's and c's that you joined the company pensionscheme after 6 months service. Ford then gave assurances in writing that there would be no change for those transferring to the newly formed Visteon.
Should have taken out a private pension plan, and looked after yourself, as opposed to relying on others...
The blokes a joke. Ignore the Prat.
I was at Ford at the time, and everyone understood that Ford pension would remain sacrosanct and would continue to be so under Visteon. Thats why so many people accepted the transfer. Otherwise, why would they???
It's another typical 'backstab' from the wonderful world of Ford. I hope it costs them millions.
backlanejohn
says...
6:47pm Thu 21 Mar 13
Carnabackable wrote:That's what the pensioners are fightint to get back. There Savings. Thats what a pension is.
Always quick to moan, with little else to occupy their otherwise drab lives, had they saved, they wouldn't be in a mess now.
Howard Chase
says...
10:31am Fri 22 Mar 13
backlanejohn wrote:shame they seem to spend plenty over the bar at the Ford Social Club when they meet up there on Thursdays.
Carnabackable wrote:That's what the pensioners are fightint to get back. There Savings. Thats what a pension is.
Always quick to moan, with little else to occupy their otherwise drab lives, had they saved, they wouldn't be in a mess now.
If they want to hit Ford in the pocket they should think twice about buying their beer from the club...
backlanejohn says...
8:32am Thu 21 Mar 13