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Today is #USS's annual 'Institutions Meeting'. This is the first time I've been (I'm invited as a member of the Joint Negotiating Committee), but my understanding is that it's a way for USS to woo representatives from employers with presentations, food, nibbles and drinks. 1/
We *may* get a sneak preview of a 2018 valuation in one of the morning sessions: videos I've seen from previous years have included stuff relating to scheme funding. If so, it's likely to be confidential until the Technical Provisions consultation launches in a week or two. 2/
What might a 2018 valuation show? That depends on the input assumptions, but if the JEP recommendations are followed in full and applied to 2018 data I don't think we'd be far off #NoDeficit and #NoDetriment, even if Test 1 remains unamended. 3/
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