Halcrow Pensioners Forum

News => News => Topic started by: John Ratsey on June 11, 2014, 06:13:58 PM

Title: Visteon Pensions Compensation Deal
Post by: John Ratsey on June 11, 2014, 06:13:58 PM
Here's something that is potentially relevant should CH2M put Halcrow into administration.

http://www.bbc.co.uk/news/uk-northern-ireland-27790672 (http://www.bbc.co.uk/news/uk-northern-ireland-27790672)

While we hope that this event never arises it is prudent to keep a note of what has happened elsewhere.
Title: Re: Visteon Pensions Compensation Deal
Post by: finneyb on June 11, 2014, 06:56:44 PM
I didn't understand why tPR hasn't gone for Ford to fund the scheme as the parent company. But this 2013 press release para 4 explains  http://www.unitetheunion.org/news/mps-to-debate-visteon-workers-campaign-for-pensions-justice/  -

'The majority of the workers transferred to Visteon from Ford and were promised that their terms and conditions would be protected. Following a sustained campaign held by workers, a fair redundancy settlement was reached, but the workers lost up to 45 per cent of their pension entitlement. '

So while the similarity is worth being aware of CH2M is not in a position to transfer employees, let alone a bunch of grumpy old pensioners with the time, ability and attitude to kick ass.

But it does raise the issue that we don't have a 'Unite' with a budget for legal action. As I have said before get legal protection on your household insurance, probably £25pa and it maybe well worth including that advice in the next newsletter.  Mine's good for upto £100,000 costs  - not enough on its own but with others could be useful - we are on our own no friendly union I'm afraid. 

Brian