• Home
• Evidence
• Press
• Events
• PPF
• FAQ
• Legal
• Contacts

Pre Spin off:

1) J.Nasser Memo 03 SEPT 1999

'The Visteon team have my personal assurance that employee considerations are uppermost in our minds as we look at various options. Whatever we do will only be in the best long-term interest to the people of Visteon and with proper protection of their rights and benefits'.

2) EWC Agreement 25 JAN 2000 (Note: NOT SEEN BY MAJORITY OF EMPLOYEES PRIOR TO SPIN OFF).
“Accrued seniority and existing terms and conditions, in particular pension entitlements, will be transferred to the new employment contracts. For the duration of their employment, terms and conditions of existing Ford employees, who transfer to Newco [Visteon] will mirror Ford conditions (inc. discretionary pensions in payment increases) and in their respective countries (lifetime protection).

3) Ford meeting with Union rep's  - email dated 3/3/2000.
Bob Hill Director Personnel Ford Britain stated:
i) All Visteon terms and Conditions will mirror Ford'.
ii) 'Pension benefits are guaranteed'

4) Letter to all Ford Motor Co employees in Visteon (up to and incl. LL5) 17 April 2000.
Brian Smith, Human Resources Manager Ford Britain stated:
i) 'Your accrued pension rights will be protected'.
ii) 'After transfer to Visteon UK Ltd’s employment, you will be able to join the new Visteon UK Ltd Pension Scheme and continue to earn pension benefits for future years on the same basis as you would have done at Ford'.

5) Employee Notice 18 April 2000.
Nichola Johnson Human Resources Manager Ford Britain - Q & A attachment:

Q. If I stay with Visteon will my pension be secure?
A. Visteon has committed to mirror the terms and conditions of Ford. This means that not only will your pension be secure but future increases agreed by Ford will also be passed on to you.

6) A Ford/Visteon Web Page Entry updated 28 April 2000.
'The key points of the Agreement with the EWC are as follows:'

'All Ford employees who transfer to Visteon in the event of spin off will be guaranteed, for the rest of their working lives, the pay and extra payments laid down at Ford.  This is also the case for pension rights'.

7) Ford meeting with Union rep's  - notes dated 26 June 2000.
A.Fitch, Human Resources Manager Ford Britain stated:
'So it was in most employees interests to transfer their past service to Visteon, so that they could benefit in full from the guarantee set out in the EWC agreement that their pension benefits would be the same as in Ford, both now and in the future, for all their pensionable service.

Post spin off (but prior to Visteon Pension Plan being established):

8) Letter from Visteon to Visteon employees 04 Sept 2000 (Ford document).

i) Ford and Visteon have agreed that a separate Visteon fund to mirror Ford pension benefits should be established by 28 December, 2000
ii) The EWC Agreement guarantees that Visteon employees transferring their past service benefits to the Visteon Fund will receive the same benefits as at Ford, both now and in the future for all their pensionable service.
iii) Employees who opt to leave their past service benefits in the Ford fund would only be entitled from the Ford fund to a preserved pension payable at normal retirement age which is currently 65 – this option is not a recommended one but each individual will have the opportunity to make the choice
iv) The Ford pension fund is regarded as very competitive and former Ford employees in Visteon will continue to benefit from its provisions.

9) Letter from VUK signed by L Tedesco VUK chairman, countersigned by Tony Woodley on behalf of The Trade Unions 20 Dec 2000.

i)'As you are aware, at the time of the separation of Visteon UK Ltd from Ford Motor Company, the Ford European Works Council concluded an agreement that protected ex-Ford employees who were transferred to Visteon.  With regard to pensions, it was agreed that Visteon would establish a Pension Fund that mirrored the benefits that are available to Ford employees both now and in the future'.
ii) 'You will be invited to join the Visteon UK Pension Plan and you must do so if you wish to build up pension rights that mirror Ford’s Pension Benefits, as agreed in the Ford European Works Council Agreement'.

10) Letter from Visteon UK Ltd to employees 30 January 2001.

i) 'If you join the Visteon UK Pension Plan…..you will receive the same pension benefits as you would have received from your Ford Pension Fund based on the current and future provisions of that scheme.

This letter enclosed a Question & Answer Brief (believed to be prepared by Ford):

ii) 'There will be no difference in the benefits between those for Ford employees who stay in the Ford Pension Fund and Visteon employees who join the Visteon Pension Plan'.

iii) 'The benefits and employee contribution level will be the same'.

iv) 'While you remain an active Visteon employee, the benefits offered by the Visteon UK Pension Plan will be improved in line with any future improvement to the Ford Pension Fund, including for your past service if your benefits were transferred from a Ford Pension Fund to the Visteon pension Plan'.

v) 'If Visteon were to be liquidated after the plan is established, there are legal safeguards in place to ensure that the Plan is funded at least to the level that all pension benefits accrued to date are secured'.