Discover and read the best of Twitter Threads about #OpenUPP2018
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It's been a pretty busy week at @USSbriefs HQ.
We published @BenPatrickWill's fantastic brief on what's coming down the chute in terms of transformation of HE into performance data. An essential read – & glorious @acupunctureUSS design #USSbriefs40 medium.com/ussbriefs/numb… 1/
We published @BenPatrickWill's fantastic brief on what's coming down the chute in terms of transformation of HE into performance data. An essential read – & glorious @acupunctureUSS design #USSbriefs40 medium.com/ussbriefs/numb… 1/
We published Richard Farndale's (in consultation with @CambridgeUCU Exec) excellent set of questions for the #JEP in our @OpenUPP2018 series #USSbriefs41 medium.com/ussbriefs/cruc… 2/
We published @carlomorelliUCU's excellent submission to #JEP (in our @OpenUPP2018 series) on the wider context & political economyof EU legislation – & discount rates – around pensions #USSbriefs42 medium.com/ussbriefs/euro… 3/
I'm loving how @OpenUPP2018 is, er, opening things up.
We wrote to everyone who had submitted to/given evidence at JEP.
David Miles responded – see his piece on Test 1 medium.com/ussbriefs/the-… (#USSbriefs36).
@MikeOtsuka read Miles's brief – & disagreed.
#OpenUPP2018
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We wrote to everyone who had submitted to/given evidence at JEP.
David Miles responded – see his piece on Test 1 medium.com/ussbriefs/the-… (#USSbriefs36).
@MikeOtsuka read Miles's brief – & disagreed.
#OpenUPP2018
1/
So Mike Otsuka @MikeOtsuka then made a (2nd) submission to JEP engaging w – contesting – Miles.
And then also responded to our invitation from #OpenUPP2018 – see "USS’s Test 1 is not too risky and how Test 2 should be changed" #USSbriefs39 medium.com/ussbriefs/why-…
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And then also responded to our invitation from #OpenUPP2018 – see "USS’s Test 1 is not too risky and how Test 2 should be changed" #USSbriefs39 medium.com/ussbriefs/why-…
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And you can read the exchange for yourself before the JEP reports. Since #OpenUPP2018 has allowed to be be pulled outside of the closed doors of the JEP.
Opening things up, as we had hoped.
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Opening things up, as we had hoped.
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"The working paper provides the required proof & argument against the flawed valuation method adopted by #USS. Using an appropriate valuation technique, the USS is found to be in surplus as large as £10bn ...": Woon Wong #USSbriefs34 on the phantom deficit medium.com/ussbriefs/indu…
Wong: "many actuarial practices should be reviewed ... [T]here is a need to examine the economics of risk & return from a long term perspective ... given ... low interest rates, de-risking can be suboptimal & extremely expensive" #USSbriefs34 working paper medium.com/ussbriefs/indu…
Wong insists that the #USS valuation can be resolved if there is appropriate time given to it: "say 2 to 3 years of proper research & discussion between all relevant academics, the actuary industry & tPR (of course these include UUK and UCU)" #USSbriefs34 
We at @USSbriefs HQ have spent lots of weekends & evenings getting our first briefs ready for OpenUPP. Our efforts to Open Up the #USS Joint Expert Panel start for real today, as we challenge the epistemic landscape of #USS #pensions dispute ussbriefs.com/openupp2018/ #USSstrike 1/
Our first #OpenUPP2018 brief is 'Opening up the USS Joint Expert Panel', by me. I explain why we at @USSbriefs are so committed to Opening Up the #JEP, & provide thumbnail reflections on the 7 people who make up that closed panel medium.com/ussbriefs/open… 2/
Our second #OpenUPP2018 brief is an 'Open Letter from Academics for Pensions Justice' (@ForPension) which demands that #USS provides full disclosure of data, assumptions & the modelling approach underpinning the 2017 valuation to JEP medium.com/ussbriefs/open… #USSbriefs26 3/
This is fascinating by @MikeOtsuka on logic & motivations of #USS Test 1 (& how Test 1 might be met without de-risking), based on talk at @bsaweel Pensions Symposium. We've invited Mike to contribute longer piece for @OpenUPP2018 at @USSbriefs medium.com/@mikeotsuka/ho… #OpenUPP2018
.@MikeOtsuka's piece links to #USS discussion document sent as response to a Qu & challenge from Mike (sent by USS & linked to a meeting Mike had w USS executives on 23 March 2018). This adds to archive of #USS materials (cc. @ForPension) drive.google.com/file/d/1Q4r6tE… #OpenUPP2018
The #USS discussion document ("Response to Prof Michael Otsuka for discussion purposes") is dated 22 March 2018 with authors Guy Coughlan, Jeff Rowney, Steve Towers. Author in document properties is Jeff Rowney drive.google.com/file/d/1Q4r6tE… #OpenUPP2018
