Pensioners celebrate £28m deal at Visteon
Former Visteon workers whose pension value was slashed when their employer went into administration have accepted a compensation deal worth millions.
The deal was reached following long negotiations between the trade union Unite and Ford who once owned Visteon car parts firm.
The former workers, whose pension values fell, have accepted a compensation deal estimated at £28m. It follows years of campaigning and legal moves for a settlement.
According to Unite the settlement offer received "overwhelming support" from all "eligible ex-Visteon workers" who took the decision to be a party to the legal action. It did not comment on exact figures.
In 2009 Visteon was placed into administration and more than 1,000 people lost their jobs in factories across the UK.
More than 200 people lost their jobs at the company's plant at Finaghy Road North, Belfast.