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Zenscara @zenscara
, 3 tweets, 2 min read Read on Twitter
Good @USSBriefs thread on #USS HESC yesterday afternoon in Manchester... it was inquorate so advisory+motions will be sent to HEC to deliberate... negotiators do have meetings before then so will need to balance existing @UCU policy with advice/guidance from 91 delegates yday /1
I hope this + results of HESC on Pay + Equality dispute mean extra HEC meeting(s) to avoid squeezing everything into short slot on a larger agenda (of other very important things). To be effective, we need time for focused discussion on enacting motions properly/transparently /2
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More from @zenscara see all

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.@ucu HESCs on Pay+Equality (am)&USS JEP(pm) were intense! Lots decided after v intense complicated discussions but only morning decisions “count”- USS conference advisory as (sadly) inquorate. Those motions get referred 2 HEC as advisory but also advise negotiatiors this week /1
@ucu *🚿Shower and re-humanify interlude after a LONG day indoors at the (sadly) today unexplored @sim_manchester museum + trains. #unionstrong reps function better after 🚿☕️...*
RESUMING! TL;DR on pay+equality dispute = we're reballoting, but *not* right away: early new year to allow time to regroup+build (understanding+momentum) with commitment to improved resourcing+coordination. Returning to aggregated balloting after long, important discussion /2a
Read 27 tweets
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Thread on yesterday's #UCU Higher Education Committee (HEC), esp UK-wide Pay+Equality dispute + potential next steps. Making efforts to de-jargonify + de-acronym it, but recommend @Rachellaracohen's #USSbriefs23 to understand structures if confused medium.com/ussbriefs/ucus… /1
Y’day’s HEC was another packed schedule for 11-430 meeting. Attendance hit by Thur scheduling (unfortunate but probably unavoidable). Loads of important work + pressing Pay+Equality ballot + USS dispute. For the latter 2 we were considering motions to send to the 7 Nov HESCs /2
HEC = Higher Ed members of the National Executive Committee (NEC). We meet regularly between Congresses to enact @ucu policy as decided democratically at annual Congress, and to make 'steering' decisions in line with this. However "HESC" meetings are also policy-forming... /3
Read 25 tweets
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[HEC thread link: Part 2]
If reballoting this round, must ensure we know where to target + improve GTVO + how we connect with each other over:
- what the ballot is about
- why voting at all matters so much
- why we recommend voting yes
It will take a lot of work, which we can do -but need v good Plan /25
I think we *could* do it, but I would feel a lot more comfortable if hearing more about a burning desire to do it right now from across the membership (may happen at HESC) whereas trend in my DMs/email is about strategising + regrouping longer term. I don't think HEC allowed> /26
Read 8 tweets

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In his linked blog post on the new valuation, #USS CEO Bill Galvin offers the following accurate account of @ucu's actuary @FirstActuarial's approach to the valuation of the DB scheme: 1/
uss.co.uk/how-uss-is-run…
Galvin's response to @FirstActuarial's approach is to note (1) that #USS relies on return-seeking assets to fund DB pension promises, but (2) it needs to control the risks of returns on such assets falling short of what is necessary to cover these promises: 2/
The need identified in (2) is genuine. It must be met. Here, without mentioning it by name, Galvin explains that #USS has adopted Test 1 (T1) to meet this need: 3/
Read 17 tweets
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🚨🚨🚨Alerting #USS members: today, tomorrow, & Wed are important days, since @ucu's position re #USS & JEP proposals will be set by the end of special sector conference Wed afternoon. By noon today, we should learn what motions have made it onto the agenda (see highlighted): 1/
One big question is whether 2 motions of the National Dispute Committee (NDC) will be ordered onto Wed's agenda. See this tweet, including further tweets & comments below: 2/
Without taking a view as to whether it should be ordered onto Wed's agenda (and perhaps the *procedural* case for doing so is strong), here's my take on the *substance* of NDC motion 1. 3/
Read 25 tweets
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As promised, a new blog post: "USS’s valuation rests on a large and demonstrable mistake: when corrected there is no deficit as at 31 March 2018 and no need for detrimental changes to benefits or contributions". 𝗣𝗹𝗲𝗮𝘀𝗲 𝗿𝗲-𝘁𝘄𝗲𝗲𝘁. 1/
medium.com/@mikeotsuka/us…
It begins: "It is hard to overstate the importance of USS’s confirmation yesterday of the accuracy of union-appointed JNC member Sam Marsh’s modelling of some implications of their valuation." 2/
From the concluding section: 3/
Read 64 tweets
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🚨😱😥Calling all #USS members: Please read this, weep, and then retweet.
medium.com/@mikeotsuka/wh…
👆Tagging @Sam_Marsh101 @Flibitygibity @carlomorelliUCU @DaveGuppy @RedActuary @Derek_Benstead @kevinwesbroom @ucu @UniversitiesUK @USSbriefs @OpenUPP2018 @JosephineCumbo @henryhtapper @AlistairJarvis
Read 20 tweets
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Here I distill my threads of the past few days into a single message: the @FirstActuarial & @ucu approach to the investment and valuation of #USS is not some radical new theory. Rather, it's in line with the way #USS used to run things, before Bill Galvin took over as CEO. 1/
It's the way #USS ran things from its foundation in 1975 until Galvin took over in 2013. For all of those years, we had DB on all salaries with 1/80th accrual. There was a modest reform in 2011, with the introduction of career average for new members. 2/
But it remained DB on all salaries, at 1/80th accrual. Moreover, it was not merely because of different regulatory regimes that it was possible to provide DB on all salaries. The 2008 and 2011 valuations were conducted under the current regulations. 3/
Read 12 tweets
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IMPORTANT #USS UPDATE! Friday saw two big decisions made with big implications for the future of USS. One took place at UCU's HEC, the other at the UCU/UUK Joint Negotiating Committee. You need to be aware of what happened at both! READ ON... 1/ @JosephineCumbo @jgro_the
SECOND MEETING FIRST: the JNC agreed (yes, agreed!) to formally revoke the January imposition of a defined contribution scheme. This is an important moment! DC is gone, and not coming back. This makes concrete previous loose pledges from @AlistairJarvis & UUK. 2/
It is expected that #USS will now prepare to implement 'cost-sharing' to start in April 2019. This will leave benefits unchanged (at least up to the DC threshold), but will mean big contribution rises. See thread by @MikeOtsuka: 3/
Read 14 tweets

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