Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: https://www.socialistparty.org.uk/articles/11564

Posted on 30 March 2011 at 13:02 GMT

Visteon pensioners demand the pensions they have earned

200 Visteon pensioners demonstrated outside parliament on Tuesday 29 March as Ford executives met MPs, photo Mike Gard

200 Visteon pensioners demonstrated outside parliament on Tuesday 29 March as Ford executives met MPs, photo Mike Gard   (Click to enlarge)

Up to 200 Visteon pensioners demonstrated outside parliament on Tuesday 29 March as Ford executives met MPs. It was apt that the meeting took place almost two years to the day since Visteon UK went into administration - resulting in 600 workers being immediately sacked when Belfast, Basildon and Enfield plants closed.

A Visteon pensioner

It was only because of a heroic campaign of occupations and pickets that decent redundancy payments were won. That battle set the example for the pensions campaign.

The pensions of 3,000 pensioners at the three locations plus Swansea which was sold by Visteon in 2008 and closed last autumn by new owners Linamar are being reduced by between 14% and 50% as they head towards the Pension Protection Fund (PPF).

The pensioners believe that Ford is liable because the company gave guarantees when it convinced Visteon workers to transfer their pensions from the Ford fund to the new Visteon one.

This was after Ford had spun off the four component plants to its new creation - Visteon - in 2000. Ford made billions of pounds in profits from these workers by using their so-called 'independence' to force down prices.

Unsurprisingly, Visteon UK never made a profit! It was always in crisis and because the pension fund was in deficit at the time of insolvency, the PPF and its cuts in pension benefits looms.

Unite has started legal action to get Ford to accept its responsibilities and finally pay up to ensure that these pensioners escape a retirement of poverty.

In the meeting, Ford tried to argue yet again that it is Visteon that needs to be questioned - continuing the myth that we are dealing with two unconnected companies.

The pensioners have no problem with Visteon being summoned to meet MPs - preferably in a select committee jointly with Ford.

The bankruptcy of Visteon UK deserves a full investigation - for example on how the company can go into administration while a subsidiary called 'Visteon Engineering Services' continues to operate in Chelmsford with Visteon UK's management!

However, as former Swansea Unite convenor Rob Williams explained to the protest: "MPs shouldn't be fooled by this red herring. Ford was Visteon and Visteon was Ford".

Ford has just announced profits of over $9 billion - enough to pay two of its executives nearly $100 million between them! They don't fear their retirement but Visteon pensioners will continue fighting for the pensions they were promised and earned.

For more info about the campaign see http://www.visteonpensionactiongroup.co.uk/

Why not click here to join the Socialist Party, or click here to donate to the Socialist Party.






Related links:

Visteon:

triangleFord workers vote for action

trianglePotential new steel bosses refuse to take on pensions

triangleWorkplace news in brief

triangleFinal meeting of Swansea Visteon pensioners

triangleWorkplace news in brief

Ford:

triangle'Made in Dagenham' Ford machinists pay strike 50 years on

triangleEast London Socialist Party: 'Made in Dagenham' - Ford women workers' pay strike 50 years on

triangleVote for action to save Ford plant

triangleBridgend Ford overtime stoppage in sourcing dispute

Linamar:

triangleFighting the anti-strike legislation

triangleSwansea Linamar

triangleSwansea Linamar plant: Reluctant vote for redundancy

Reports and campaigns

Reports and campaigns

17/7/18

Swansea

Victory for Swansea postal workers against management victimisation

16/7/18

Far-right

Confronting the FLA pro-Trump demo - build a workers movement to defeat the far-right

13/7/18

Socialist Students

School students protest and walk out against Trump

11/7/18

National Shop Stewards Network

NSSN conference 2018: Mood for fighting action and coordination

11/7/18

Donald Trump

Hit the streets against Trump and capitalism

11/7/18

The Socialist

Issue 1000 drive shows sales potential

11/7/18

Fighting Fund

Tories fractured... election possibility... give us the resources!

11/7/18

NHS

Yes to NHS - No to PFI!

11/7/18

Leeds

NHS Leeds: Campaigners halt outsourcing... for now

11/7/18

Domestic violence

Women's Lives Matter launched in Leeds to fight domestic violence service cuts

11/7/18

Unite

Unite conference sees union go in a fighting, socialist direction

11/7/18

Tyneside

Tyneside shopfitting plant lays off 61 workers

11/7/18

Huddersfield

Summer of discontent on the cards in Huddersfield bin workers' dispute

11/7/18

Hackney

Hackney traffic wardens strike for better pay and protection at work

11/7/18

PCS

Campaign in full flow to squeeze out every last Yes vote in pay ballot

triangleMore Reports and campaigns articles...


Join the Socialist Party
Subscribe to Socialist Party publications
Donate to the Socialist Party
Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube

LATEST POSTS

CONTACT US

Phone our national office on 020 8988 8777

Email: info@socialistparty.org.uk

Locate your nearest Socialist Party branch Text your name and postcode to 07761 818 206

Regional Socialist Party organisers:

Eastern: 0798 202 1969

East Mids: 0773 797 8057

London: 020 8988 8786

North East: 0784 114 4890

North West 07769 611 320

South East: 020 8988 8777

South West: 07759 796 478

Southern: 07833 681910

Wales: 07935 391 947

West Mids: 02476 555 620

Yorkshire: 0114 264 6551

ABOUT US

ARCHIVE

Alphabetical listing


July 2018

June 2018

May 2018

April 2018

March 2018

February 2018

January 2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999