Profile picture
Felicity Callard @felicitycallard
, 10 tweets, 11 min read Read on Twitter
So: #USS is undertaking a new valuation (of funding position in March 2018). 1/ #USSstrike
Bill Galvin, #USS CEO, implicitly puts onus on #UUK for problems of 2017 valuation, stating that employers had given a "very clear view" to USS to "take less risk than was laid out in its [USS's] original proposals" uss.co.uk/how-uss-is-run… 2/ screen shot of part of document linked to in tweet
There is clearly dispute between #USS and #UUK over this: the #JEP, we should remember, said that it had 'not taken a view' on the differing perspectives of #UUK and #USS over the shift from the Sept to Nov TPs & valuation assumptions ussjep.org.uk/files/2018/09/… 3/ screen shot of p. 45 of document linked to in tweet
Beyond that, Bill Galvin maintains his commitment to NOT RESILING (on pretty much anything – including on Test 1): #ResileAndResubmit 4/
He also helpfully describes #USS Trustee's approach as a "pragmatic, middle-way approach to managing pension solvency" (Ah! #joyofthemiddleway #joyofpragmatism). And look at the work that those italics are doing there; the onus is all on #UUK, again. uss.co.uk/how-uss-is-run… 5/ screen shot of part of web site linked to in tweet
And we have, yet again, another communication from Bill Galvin (Executive) representing the position of the #USS Trustee (the decision maker). (Remember: @FirstActuarial's critique of the silence of the #USS Trustee during 2017 valuation: ucu.org.uk/media/9971/Fir…). 6/
Finally, I'm sick to back teeth w how both #USS & #UUK in their communications of last couple of weeks have managed to turn entire conversation into one of "employers taking more risk" – thereby sidestepping #JEP's profound critique of #USS valuation methodology as a whole 7/
Expect a @USSbriefs in the next few days which will pick up some of these points in more detail

#ItisNotAllAboutTakingMoreRisk
#USSHasStillNotGivenAdequateBriefingsAboutRiskAnyway

#ResileAndResubmit #JEP #USSstrike #YesUniCan END
I don’t know about you, friends, but I’m exhausted w #USS #UUK #TPR game-from-hell. We’ve offered so much action (#USSstrike) & evidence (#JEP, @Sam_Marsh101 @MikeOtsuka @USSbriefs) & we are faced w so much intransigence. We’re not out of the woods yet
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to Felicity Callard
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member and get exclusive features!

Premium member ($30.00/year)

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!