Unite, Britain’s biggest union, and Ford have agreed an overall settlement worth millions of pounds for former Visteon workers who lost part of their pensions when their employer went into administration.
Eligible ex-Visteon workers have fought for years for this settlement. The settlement offer received overwhelming support from all eligible ex-Visteon workers who took the decision to be a party to the legal action.
A legal action was launched by Unite Legal Services following Visteon UK going into administration in 2009 with thousands of workers at Basildon, Enfield, Belfast and Swansea losing their jobs. Unite Legal Services took legal action for compensation on behalf of all eligible members.
Visteon UK’s liquidation saw the pension fall into the Pension Protection Fund meaning pension losses of thousands of pounds for Unite members.
Ford and Unite legal services have been involved in lengthy but constructive talks to agree a settlement package for the former workers.
Howard Beckett, director of Unite Legal Services, said: “This settlement is worth millions for eligible former Visteon workers who lost part of their pensions. This settlement was made possible because of the support of Unite Legal Services.
“The union was prepared to spend millions and campaign for years in order to reach a fair settlement with Ford on behalf of its members. Only a tiny fraction of wealthy individuals could afford this sort of legal support, but thanks to Unite ordinary men and women can access the best negotiators and best legal experts for the cost of the union’s monthly subscription.
“This case proves just how valuable it is to be in a union. Unite would like to pay tribute to our convenors, who have continued to show leadership long after the plants have closed, our members and activists and the members of the Visteon Support Group, all of whom maintained their tireless campaign until a successful conclusion was achieved.
“Unite Legal Services is proud to have represented our members in bringing this matter to an honourable conclusion.”