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What is going to happen to our #USS pensions? In tweets below, I sketch what I take to be the most likely short-term developments. I’ll try to restrict myself to claims that all sides in the GS election can accept. 1/
In spite of expressed scepticism (see👇), @TPRgovuk indicates they will not take action against #USS Option3, provided both stakeholders (@ucu & @USSEmployers) support it. 2/
.@USSEmployers reluctantly accept #USS Option 3 of status quo DB via 30.7% contribution rate (21.1% employer, 9.6% member) from Oct 2019 till Oct 2021. 3/
Employer acceptance is reluctant, not only because of +3.1% employer contribution, but also because of need for rule change to make it harder to leave the scheme in light of Trinity👇, plus restrictions on employer debt levels. 4/
.@ucu’s response will depend on whether late May Congress, NDC & HEC endorse @mattwucu’s approach or the approach of @DrJoGrady & @JomcneillUCU 5/
.@mattwucu’s approach is to ballot members, w facts laid out setting out the pros & cons of accepting Option 3👇. This would make most sense via a consultative e-ballot. 6/
The contrasting approach of @DrJoGrady & @JomcneillUCU involves immediate mobilisation for a postal strike ballot combined with strong union advocacy of rejection of Option 3. See here 👇. 7/
Here 👇. 8/
And here 👇. 9/
Neither @DrJoGrady nor @JomcneillUCU has spelled out a plausible pathway to No Detriment in the event that members follow their recommendation to reject Option 3. (If you believe they have, please tweet a link to it below.) 10/10
My response👇to Sam Marsh's spelling out of a path to No Detriment. Read upward.
See also exchange between Chris Bertram and Sam👇.
