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24 May 2022

USS statement

A hearing was held at the High Court in April to establish whether four claims, brought by two members of USS, against directors of the scheme’s trustee company should proceed to trial. After considering the claim mechanism used and the substance of the claims, the High Court has found that the case should not proceed.

A USS spokesperson said: “We are pleased that the High Court has denied permission for these claims to be pursued. We welcome the thoroughness with which the Judge has assessed this case, and the way he has fully considered both the appropriateness of the ‘derivative’ claim mechanism and the underlying claims themselves.

“Whilst pleased with that outcome, we are concerned that anyone should feel it necessary to take such action. We are committed to moving forward and to building stronger relationships with all stakeholders.

“Much of the material considered by the court was already available on our website. We encourage members to make use of that information to help them better understand the scheme and how we run it for them.”