Academics for Pensions Justice have obtained a legal opinion from a leading pensions law QC at Wilberforce Chambers. Our QC has assessed the scheme rules, pensions regulation and pensions law. The opinion has considered all historic and recent actions and behaviour of USS Trustee Ltd and the trustees, and has concluded that there are good grounds to take this matter to court based on breach of trust.
We have now completed the tasks which we promised to undertake, having assembled and synthesised a colossal amount of material and evidence – when printed it filled 10 lever-arch files – on which legal advice could be taken. We are pleased and positive about the advice we have received. However, taking things further requires an investment of time and attention that we are not in a position to provide.
We feel that the time has come to pass the matter onto an organisation with the time, personnel and resources required to pursue this matter to the best advantage of USS members. Having discussed the matter with UCU at the highest levels, we have concluded that the Union is best placed to act on the advice we have received. We will be transferring the materials we have assembled to UCU in due course. We will continue to support UCU in an informal advisory capacity. We have confidence in General Secretary Jo Grady to act for the good of all members of the USS pension scheme.
We are incredibly grateful for all the support we have received. In particular, everyone who contributed to our crowd-funding campaign, everyone who helped with gathering information and supporting materials, our solicitors Ince Gordon Dadds, and our wonderful QC.