Thread by @felicitycallard

I've been catching up w latest on CDC pensions after yesterday's report from Work & Pensions Cttee parliament.uk/business/commi… #USSstrike

TL;dr: I predict even more enthusiasm from UUK about CDC in coming months as part of long-term plan to remove DB to reduce pension liabilities 1/

REMINDER: Collective Defined Contribution (CDC) pensions share risk *between* the members of the scheme. CDC means that employers are not exposed to the risks associated with DB plans. i.e. Risk is transferred from employer ---> employees ft.com/content/64ae04… 2/

The 16 July report from Work & Pensions Cttee gave enthusiastic thumbs up to enabling CDC for Royal Mail "in a way which will allow other companies to follow suit". Report speaks of a "new wave of collective pensions in the UK" publications.parliament.uk/pa/cm201719/cm… 3/

Remember that UUK has a strong interest in CDC. e.g. Open letter from Janet Beer and Alistair Jarvis at start of #USSstrike (22 Feb 2018) spoke of 'exploring alternative models for risk sharing', including CDC universitiesuk.ac.uk/news/Pages/uuk… #USSstrike 4/

I became interested in CDC as I started, as a total novice, tracking actors in the pensions dispute during #USSstrike. Back in Feb 214, for example, Aon Hewitt (UUK's actuarial advisor) calls "on UK government to concentrate on collective DC" threadreaderapp.com/thread/9731361… 5/

Shortly after #USSstrike, @Skourkos1 noted how strike at Royal Mail had been averted by the offer of CDC (ft.com/content/a8f4cf…) – pointing to potential analogies with #USS / #UUK

https://twitter.com/Skourkos1/status/979650190469627904

6/

I'm slowly working my way through written evidence provided to Work & Pensions Cttee Inquiry on CDC, including from actors in some way related to #USS dispute. eg you'll find submissions from Aon, Mike Otsuka, First Actuarial (UCU's actuarial advisors) 7/ publications.parliament.uk/pa/cm201719/cm…

I'm noticing how & by whom #USS is invoked in this written evidence. Where that happens, #USS is installed as likely/potential candidate for CDC. Again, we need to think *how* futures are made – how paths are laid out that make potential realities more likely to become reality 8/

We at @USSbriefs have got our eyes 👀 on CDC, since we're convinced that CDC will heave into view as #USS pensions dispute hots up again in Sep/Oct (as JEP reports, as consultations over contribution increases take place) 9/

Let's keep 👀 on the prize: opening up, contesting, challenging the flawed approach to #USS valuation

Let's not be seduced into believing that any future CDC 'risk-sharing' wd be anything but a way of #USS employers reducing their own risk & pension liabilities #USSstrike 10/10