CRANBERRY — Westinghouse Electric Company is hoping to ease concerns this week about its pension plan, which some have claimed to be seriously underfunded.

The Pension Benefit Guarantee Corp., a government agency that was formed to encourage pension maintenance and security, has estimated that Westinghouse’s pension program is unfunded by around $937 million.

The agency’s concern is that Westinghouse will terminate its pension plans during the bankruptcy proceedings, in which case the PBGC would take control of the pension plan and may have to adjust its offerings to reflect the shortfall.

That could mean a reduction of benefits for those in the plan.

Westinghouse argues that it has not moved in that direction and does not plan to do so.

“The PBGC claim assumes that Westinghouse will terminate the plan in bankruptcy,” said Sarah Cassella, external communications manager at Westinghouse. “We have not taken any action to do so. Our business plan calls for continued contributions to the fund.”

Westinghouse’s pension plan has around 9,700 current and retired employees in it.

The pension concerns come at a time when Westinghouse is accepting bids for the Cranberry-based company.