@MikeOtsuka @USSEmployers @ucu @AlistairJarvis @JoanneSegars @SallyBridgeland @Sam_Marsh101 @Flibitygibity @carlomorelliUCU @HershMarion @Dennis_Leech @DaveGuppy @UofGVC @adamtickell @RedActuary @Derek_Benstead @kevinwesbroom @GuyCoughlan @USSbriefs @JosephineCumbo @Wonkhe @stianwestlake Hi Mike
Some comments on this double-thread.
First, at 3-5 (= tweets 3-5) you say TPR will not accept higher than gilts+1.2%. Is this on the basis of what USS says about TPR, or of statements by TPR itself? If it is the former I would take it with a pinch of salt. 1/
Some comments on this double-thread.
First, at 3-5 (= tweets 3-5) you say TPR will not accept higher than gilts+1.2%. Is this on the basis of what USS says about TPR, or of statements by TPR itself? If it is the former I would take it with a pinch of salt. 1/
@MikeOtsuka @USSEmployers @ucu @AlistairJarvis @JoanneSegars @SallyBridgeland @Sam_Marsh101 @Flibitygibity @carlomorelliUCU @HershMarion @Dennis_Leech @DaveGuppy @UofGVC @adamtickell @RedActuary @Derek_Benstead @kevinwesbroom @GuyCoughlan @USSbriefs @JosephineCumbo @Wonkhe @stianwestlake Second, at 9 I think you are very defeatist. If UUK and UCU were jointly determined, on the basis of solid arguments, to reject the TP document (as it should be rejected) USS would be forced to renegotiate with TPR. 2/
@MikeOtsuka @USSEmployers @ucu @AlistairJarvis @JoanneSegars @SallyBridgeland @Sam_Marsh101 @Flibitygibity @carlomorelliUCU @HershMarion @Dennis_Leech @DaveGuppy @UofGVC @adamtickell @RedActuary @Derek_Benstead @kevinwesbroom @GuyCoughlan @USSbriefs @JosephineCumbo @Wonkhe @stianwestlake Third, at e you say that future service contributions can be calculated with a higher discount rate than the one used to calculate technical provisions. 3/
@MikeOtsuka @USSEmployers @ucu @AlistairJarvis @JoanneSegars @SallyBridgeland @Sam_Marsh101 @Flibitygibity @carlomorelliUCU @HershMarion @Dennis_Leech @DaveGuppy @UofGVC @adamtickell @RedActuary @Derek_Benstead @kevinwesbroom @GuyCoughlan @USSbriefs @JosephineCumbo @Wonkhe @stianwestlake But this sounds wrong. The TPR code of practice 3 (bit.ly/1hM11If) at para 132 says: "The cost of future benefit accrual for active members should be assessed on a basis consistent with that being used for the technical provisions." 4/4
