FORMER Ford workers who had been fighting for their pensions for five years will finally receive their settlements this month.
The car giant has agreed to pay those who have not yet received their pensions, in the next two weeks.
Almost every eligible pensioner has agreed to the terms of the deal after Ford entered binding talks with the Unite union, representing Visteon Pension Action Group, to settle the claim.
Stephen Metcalfe, MP for South Basildon and East Thurrock, campaigned for Ford to honour its responsibilities after Visteon collapsed, meaning former employees suffered pension losses of up to 50 per cent. He said: “I am delighted to hear the Visteon pensioners will be receiving payments so soon after Ford agreed to settle the claim.
“This will be the end of a long-fought campaign.
“I know every pensioner involved in this campaign will be extremely pleased with the outcome.’’ The Tory MP added: “I would like to once again thank Ford for honouring its responsibilities.
“By righting this wrong, it has restored its proud reputation for looking after its workers.
“I look forward to working with it in the future as it continues to make an invaluable contribution to the national economy, and our local economy in Basildon.”
On March 31, 2009 Visteon UK, the former Ford car parts manufacturer, went into administration.
It left 3,400 employees and ex-employees with significantly reduced pension rights.
They have been fighting for the pensions to be restored ever since.
The All-Party Parliamentary Group in support of Visteon pensioners, chaired by Mr Metcalfe, has held debates in the House of Commons on the issue.
It has made representations to the Government, attended demonstrations, and supported the Visteon Pension Action Group in its fight.
The exact details of the deal have not been made public.