MP in Ford pension row

Echo: MP in Ford pension row MP in Ford pension row

BASILDON and East Thurrock MP Stephen Metcalfe told MPs Ford’s reputation had been blemished by its failure to fulfil its moral duty to pay former employees their full pensions.

The car giant formed its global parts manufacturer Visteon in to a new company in 2000, but it was “set up to fail” in the UK and collapsed in 2009, Mr Metcalfe said.

The result was reduced pensions for Ford workers, who were advised by Ford to switch to Visteon.

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10:11am Sat 14 Dec 13

Nowthatsworthknowing says...

There simply enough money in the pot.....
There simply enough money in the pot..... Nowthatsworthknowing

10:43am Sat 14 Dec 13

Howard Cháse says...

They weren't moaning while they were walloping in the overtime on nearly twenty pounds an hour. Rather than getting lumbered with massive mortgages and driving expensive mercs they should have squirreled a few quid away..
They weren't moaning while they were walloping in the overtime on nearly twenty pounds an hour. Rather than getting lumbered with massive mortgages and driving expensive mercs they should have squirreled a few quid away.. Howard Cháse

11:41am Sat 14 Dec 13

jnevill says...

I remember when Ford were stopping car production at Dagenham and we asked our 'Visteon brothers' about their support and was told "P*ss off we're Visteon"
Sad situation but perhaps mouthy MPs should look at why Visteon failed instead of trying to grab a few votes.
I remember when Ford were stopping car production at Dagenham and we asked our 'Visteon brothers' about their support and was told "P*ss off we're Visteon" Sad situation but perhaps mouthy MPs should look at why Visteon failed instead of trying to grab a few votes. jnevill

12:19pm Sat 14 Dec 13

Howard Cháse says...

jnevill wrote:
I remember when Ford were stopping car production at Dagenham and we asked our 'Visteon brothers' about their support and was told "P*ss off we're Visteon"
Sad situation but perhaps mouthy MPs should look at why Visteon failed instead of trying to grab a few votes.
Funny how Baroness Smith has kept schtum about this since her elevation. Maybe Steve is after a peerage...
[quote][p][bold]jnevill[/bold] wrote: I remember when Ford were stopping car production at Dagenham and we asked our 'Visteon brothers' about their support and was told "P*ss off we're Visteon" Sad situation but perhaps mouthy MPs should look at why Visteon failed instead of trying to grab a few votes.[/p][/quote]Funny how Baroness Smith has kept schtum about this since her elevation. Maybe Steve is after a peerage... Howard Cháse

12:46pm Sat 14 Dec 13

visteonpensioner says...

I remember when Dagenham closed and pensions were paid at 50, with cash handouts and £3000 training grants - Visteon closed after being turned over by Ford with 5 mins notice and sod all payments.

Dont take you eyes away from the bad guys here - FORD
I remember when Dagenham closed and pensions were paid at 50, with cash handouts and £3000 training grants - Visteon closed after being turned over by Ford with 5 mins notice and sod all payments. Dont take you eyes away from the bad guys here - FORD visteonpensioner

12:54pm Sat 14 Dec 13

Howard Cháse says...

visteonpensioner wrote:
I remember when Dagenham closed and pensions were paid at 50, with cash handouts and £3000 training grants - Visteon closed after being turned over by Ford with 5 mins notice and sod all payments.

Dont take you eyes away from the bad guys here - FORD
Visteo workers got best ever redundancy payoff sanctioned by the 'bad guys' after sitting outside their old plant drinking beer scoffing union paid for grub and burning wood for a few weeks didn't they?
[quote][p][bold]visteonpensioner[/bold] wrote: I remember when Dagenham closed and pensions were paid at 50, with cash handouts and £3000 training grants - Visteon closed after being turned over by Ford with 5 mins notice and sod all payments. Dont take you eyes away from the bad guys here - FORD[/p][/quote]Visteo workers got best ever redundancy payoff sanctioned by the 'bad guys' after sitting outside their old plant drinking beer scoffing union paid for grub and burning wood for a few weeks didn't they? Howard Cháse

4:13pm Sat 14 Dec 13

jolllyboy says...

Live with it.
There are many others who have had to .You dont know how lucky you are !
Live with it. There are many others who have had to .You dont know how lucky you are ! jolllyboy

1:22pm Sun 15 Dec 13

laindonangler says...

For me this sums up the modern age of information provision and how people react to that. Foer a start what is the point of the article that seems to want grab your attention without providing any of the key facts – which of course is the instrument for comments added here. The piece quite frankly is a waste of time .Now before you start I am not a Visteon Pensioner and have responded before to the same people that have commented here before on this issue in this website before. Funny how it seems the same people who appear to do nothing all day but spout negative comments no matter what the item is about – But that’s freedom of speech for you. But I will say that nut for the grace of god there I and perhaps of few other readers go I. – This something I have followed closely for the past 4 years. I fully support them in their claim for Justice. They are not beer swilling sandwich eating bunch but ordinary people that have been turned over by a supposedly Blue Chip company. .
Let me attempt to do the Echo’s job for them here as they have to be are careful because there is a court case pending so some matters of fact are sub judice and the full facts will be forthcoming if the case goes to court – I hope it does not as it not in anyone’s bets interests. Its already been over 4 years and my cynical take is Ford with all their legal resources are dragging their heels in the hope that that the affected group will get smaller and weaker over time, due to Pensioners dying
This is basically a case of mis-selling a pension – on par or even more sinister than the Endowment Mortgage and PPI fiascos – look how much publicity they received and fines / action taken. OK this only affect 3500 people but it was underhand way that Ford decided that they would get rid of their high cost in house part manufacturing capability in order to become competitive. They set Up Visteon Globally to fail with categoric promises that all FORD workers transferring to the new Company would retain their Ford Pension rights for the life time. When Ford renegaded on all ‘deals’ and squeezed the legacy plants prices to the bone (Note: The only co at spin off was FORD) it was always was going to fail and with it the Pension Fund which was over £350m underfunded,
This is not about mouthy MP’s – this about MPs doing what they should be doing – standing up for the rights of their constituents – I commend them for that.
It also not about any greed on the part of the Visteon Pensioners – it’s about then getting what they were promised and what they had planned for – just like you & I would.
If any of the commentators and Echo would care to check the Motion the MP’s debated and past was then perhaps that might assist
“That this House notes that, when Visteon UK Ltd was spun off from the Ford Motor Company, employees transferred from Ford’s pension scheme into the Visteon UK pension fund on the clear understanding that their pension rights would be unaffected; further notes that, when Visteon UK subsequently went into administration, now over four years ago, former Ford employees suffered a substantial reduction in their pension rights; regrets that the resolution of any court action is still some way off; believes that Ford should recognise a duty of care to its former employees and should make good the pension losses suffered by those worst affected without the need for legal action; and calls on the Government to use the power and influence at its disposal to help ensure that Ford recognises its obligations and accepts voluntarily its duty of care to former Visteon UK pensioners”.
Stephen Metcalfe opened the debate:-
“I do not really want to be standing here, criticising one of Britain’s great institutions and highlighting publicly what I believe to be a scandal, but I must. I owe it to my constituents and to the thousands of former Ford employees who transferred their pensions from Ford to the new entity of Visteon to do so. An injustice has been done and it continues to be done. I therefore stand here more in sadness than in anger.
This is a truly national issue. The request for today’s debate was signed by more than 10% of Members of this House and by Members who represent all parts of the country and sit in all parts of the House”
You can read the full debate here: http://www.publicati
ons.parliament.uk/pa
/cm201314/cmhansrd/c
m131212/debtext/1312
12-0003.htm#13121258
000002
To finish off here let me echo the words of one he MP’s in the debate on the lack of advice and direction given back in 1999 when this all started “ People were not being greedy or stupid; they were acting in the best interests of their families and themselves on the best available advice, and it is morally repugnant for a company to walk away from those assurances now, when they were either delivered by that company or were vetted by that company before being delivered.
For me this sums up the modern age of information provision and how people react to that. Foer a start what is the point of the article that seems to want grab your attention without providing any of the key facts – which of course is the instrument for comments added here. The piece quite frankly is a waste of time .Now before you start I am not a Visteon Pensioner and have responded before to the same people that have commented here before on this issue in this website before. Funny how it seems the same people who appear to do nothing all day but spout negative comments no matter what the item is about – But that’s freedom of speech for you. But I will say that nut for the grace of god there I and perhaps of few other readers go I. – This something I have followed closely for the past 4 years. I fully support them in their claim for Justice. They are not beer swilling sandwich eating bunch but ordinary people that have been turned over by a supposedly Blue Chip company. . Let me attempt to do the Echo’s job for them here as they have to be are careful because there is a court case pending so some matters of fact are sub judice and the full facts will be forthcoming if the case goes to court – I hope it does not as it not in anyone’s bets interests. Its already been over 4 years and my cynical take is Ford with all their legal resources are dragging their heels in the hope that that the affected group will get smaller and weaker over time, due to Pensioners dying This is basically a case of mis-selling a pension – on par or even more sinister than the Endowment Mortgage and PPI fiascos – look how much publicity they received and fines / action taken. OK this only affect 3500 people but it was underhand way that Ford decided that they would get rid of their high cost in house part manufacturing capability in order to become competitive. They set Up Visteon Globally to fail with categoric promises that all FORD workers transferring to the new Company would retain their Ford Pension rights for the life time. When Ford renegaded on all ‘deals’ and squeezed the legacy plants prices to the bone (Note: The only co at spin off was FORD) it was always was going to fail and with it the Pension Fund which was over £350m underfunded, This is not about mouthy MP’s – this about MPs doing what they should be doing – standing up for the rights of their constituents – I commend them for that. It also not about any greed on the part of the Visteon Pensioners – it’s about then getting what they were promised and what they had planned for – just like you & I would. If any of the commentators and Echo would care to check the Motion the MP’s debated and past was then perhaps that might assist “That this House notes that, when Visteon UK Ltd was spun off from the Ford Motor Company, employees transferred from Ford’s pension scheme into the Visteon UK pension fund on the clear understanding that their pension rights would be unaffected; further notes that, when Visteon UK subsequently went into administration, now over four years ago, former Ford employees suffered a substantial reduction in their pension rights; regrets that the resolution of any court action is still some way off; believes that Ford should recognise a duty of care to its former employees and should make good the pension losses suffered by those worst affected without the need for legal action; and calls on the Government to use the power and influence at its disposal to help ensure that Ford recognises its obligations and accepts voluntarily its duty of care to former Visteon UK pensioners”. Stephen Metcalfe opened the debate:- “I do not really want to be standing here, criticising one of Britain’s great institutions and highlighting publicly what I believe to be a scandal, but I must. I owe it to my constituents and to the thousands of former Ford employees who transferred their pensions from Ford to the new entity of Visteon to do so. An injustice has been done and it continues to be done. I therefore stand here more in sadness than in anger. This is a truly national issue. The request for today’s debate was signed by more than 10% of Members of this House and by Members who represent all parts of the country and sit in all parts of the House” You can read the full debate here: http://www.publicati ons.parliament.uk/pa /cm201314/cmhansrd/c m131212/debtext/1312 12-0003.htm#13121258 000002 To finish off here let me echo the words of one he MP’s in the debate on the lack of advice and direction given back in 1999 when this all started “ People were not being greedy or stupid; they were acting in the best interests of their families and themselves on the best available advice, and it is morally repugnant for a company to walk away from those assurances now, when they were either delivered by that company or were vetted by that company before being delivered. laindonangler

1:31pm Sun 15 Dec 13

laindonangler says...

And if you want to read the debate then watch:
http://www.bbc.co.uk
/democracylive/house
-of-commons-25351373
And if you want to read the debate then watch: http://www.bbc.co.uk /democracylive/house -of-commons-25351373 laindonangler

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