I left a FoMoCo subsidiary 4 years ago, and you only keep the discount if you retire. Leavers and redundant employees lose it the day they finish.
The strict rule is that you could only use the discount for parts to use on a Ford car bought on Privilege, but my local dealer allowed me to use it on bits for my Sierra.
Can't remember if family got the discount on parts or if that was only for employees. They could certainly use the discount on cars but employees could only put three through in a 12 month period and the cars couldn't be sold in the first 9 months. I've just bought my Vectra from Vauxhall and they won't allow me to sell it for 12 months.