Visteon UK Ltd Pension Scheme

EDM number 655 in 2013-14, proposed by Stephen Metcalfe on 30/10/2013.
Categorised under the topics of Manufacturing industries and Pensions.

That this House continues to note that, when Visteon UK Ltd was spun off from the Ford Motor Company, employees transferred from Ford's pension fund 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.

This motion has been signed by a total of 48 MPs.