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As @Sam_Marsh101 mentions 👇, yesterday the #USS trustee met to consider the response of their executives to @UniversitiesUK's proposal regarding contingent contributions. 1/
Especially in the light of the various delays experienced so far in the consultation over the 2018 valuation, I hope #USS doesn't keep members in the dark beyond today, regarding the verdict of the trustee. 2/
A reminder of the earlier delays: #USS originally announced that the consultation would be launched in mid-December & close at the end of January. But the launch was postponed to early January👇. 3/
When the consultation was launched on 2 Jan, it was announced that it would close at the end of February. Unfortunately, there was a huge missing piece to the consultation document #USS posted on 2 Jan: no details regarding lower bookend contingent contributions. 4/
How were employers expected to respond to this consultation in the absence of this vital piece of information? Employers waited and waited 👇for #USS to provide these details, w/ increasing alarm regarding the delay. 5/
In mid-Feb, we learned that #USS wouldn't be providing these details regarding contingent contributions after all. Rather, they were now inviting employers to come up with these details. 👇6/
ussemployers.org.uk/news/2018-tech…
ussemployers.org.uk/news/2018-tech…
By the end of February, @UniversitiesUK managed to produce a detailed 27 page contingent contribution proposal from Aon👇. This was produce w/ much more speed & efficiency, & by a much smaller staff, than #USS's own consultation documents. 7/
ussemployers.org.uk/sites/default/…
ussemployers.org.uk/sites/default/…
Employers were asked to respond to this proposal by the 13th of March (including any necessary governing body approval), in order to keep to a tight deadline #USS insists upon, in order to pre-empt the planned Oct 2019 contribution increase. 8/
It's to be hoped that such a large, well-staffed, & well-paid organisation as #USS will be able to provide employers & members w/ a reply by the end of March -- i.e., today.... 9/
...rather than dragging this out to April Fools' Day and beyond. This isn't as complicated as Brexit. It should be possible to wrap this up by the end of March. 10/10
Hopefully, @JosephineCumbo will be able to let members know when smoke is expected to rise from #USS HQ, and whether it is white.
.@USSEmployers are you able to shed any light as to when members can expect to learn how your contingent contribution proposal was received by the #USS trustee?
