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Row over Visteon pensions

The Swansea west MP Geraint Davies has tabled a bill to try to make car giant Ford accountable for pensions shortfalls for workers at the their former plant in the city.

Visteon took over the running of the factory in 2000 but less than a decade later it went into administration.

And former workers say a financial shortfall meant they've lost money on their pensions, as David Wood reports.

Visteon pensions hearing

A High Court hearing started today over the pensions of hundreds of workers from a now closed plant in Swansea.

The Visteon staff claim they were promised full pension rights when the car giant Ford transferred them to Visteon in 2000.

But after Visteon went into administration they say many lost money. Ford says Visteon was responsible for its own business decisions.

Today, Swansea West M.P, Geraint Davies, tabled a private members bill about the issue at Westminster.

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High Court hearing over Visteon pensions

A High Court hearing is due to start today involving hundreds of workers from a now closed plant in Swansea.

The Visteon staff claim they were promised full pension rights when the car giant Ford transferred them to Visteon in 2000.

But after Visteon went into administration they say many lost money. Ford says Visteon was responsible for its own business decisions.

While Ford recognizes the severity of the situation for former Visteon UK employees, Visteon became an independent company in 2000 and was responsible for its own business decisions.Ford was not involved in Visteon UK Directors' 2009 decision to put Visteon UK into administration. Consequently, Ford believes that questions regarding Visteon UK being placed into administration and the subsequent impact on the Visteon Pension fund should be answered by Visteon UK management and the trustees of the Visteon Pension Fund.

– Spokesperson, Ford
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